EXAMEN CAP 678 SEGUNDA PARTE (40 Puntos) Problem 1 (10 points) Careen owns a condominium near Newport Beach in California. This year, she incurs the following expenses in connection with her condo: During the year, Careen rented the condo for 90 days, receiving $20,000 of gross income. She personally used the condo for 50 days. Careen itemizes deductions and her itemized deduction for non-home business taxes is less than $10,000 by more than the real property taxes allocated to business use of the home. Assume Careen uses the IRS method of allocating expenses to rental use of the property. Required Calculate s Careen's net rental income for the year? (Assume there are 365 days in the year.)