Gordon had a full-time job as a sales manager for a meat wholesaler. Last year, he earned a salary of $85,000; he also received a bonus of $10,000 on March 31st of this year based on his excellent performance last year. He is a member of his employer's defined-benefit pension plan and he is required to contribute 5% of his base salary to the plan each year. In addition to his salary, bonus and pension plan, he enjoys many company benefits. Gordon is a member of his employer's group life insurance plan and group disability plan-his employer pays the premiums in both cases. He is also permitted to use a corporate vehicle for his personal use and like all other employees of the company, Gordon can purchase various meat products at cost. Gordon was able to borrow $120,000 from his employer on January 1st of last year, at a rate of 3% compounded annually to purchase a rental property on Rice Street. The building was valued at $80,000; the land was valued at $40,000. He agreed to repay the loan in full at the end of three years. Gordon was able to rent out the house as of February 1st of last year for $1,300 per month. Rental expenses during the year amounted to $5,780, not including loan interest of $3,600. Excited by his initial success as a landlord, Gordon decided to purchase a second rental property on Leeman Avenue. For this purpose, his wife, Sandra, lent him $130,000 via a loan for value in August of last year. The land was valued at $42,000; the building was valued at $88,000. Like Gordon's first rental property, the second rental property was in great condition and was immediately ready for renting. However, Gordon was only able to secure a tenant in December of last year, charging rent of $1,200 per month. By that time, Gordon had already spent $1,400 on property taxes, $500 in lawn maintenance services, $400 in advertising and loan interest of $3,640 with respect to this property. Both of Gordon's rental buildings fall into CCA class 1, which has a maximum CCA rate of 4%. What was Gordon's net rental income for tax purposes last year, ignoring any deductions for CCA? $0 b) $180 c) $7,420 d) a loss of $2,820