Francisco owns a beach house condo that he rents. The following information is available: Personal use days 10 days Used by relatives 90 days Rental days 200 days Rental income $40,000 Expenses: Association condo fees $24,000 Utilities: Taxes $12,000 Interest on acquisition loan: $600,000 at 3% interest only$18,000 (this is the only debt of the taxpayer) Management fee for rentals $15,000 Depreciation $4,000 What is the net income or loss allowed for Schedule E?

A. $1,000

B. $0

C. ($29,000)

D. ($33,000)