Colin and Megan own a cabin in the Mammoth Mountains, California. During the year, they rented it for 45 days for $10,000 and used it 12 days for personal use. The expenses for the cabin included $7,000 in mortgage interest, $3,000 in property taxes, $1,200 in utilities, $400 in maintenance, and $3,000 in depreciation. What is their net income or loss from the cabin (without considering the passive loss limitation)? Use the IRS method for allocation of expenses. (Round your answer to the nearest whole number.) Multiple Choice $10.000 net income. $0. $1,526 net loss. $7,632 net loss