Kate McDaniel purchased the rights to a group of songs written by The Four Tops, one of her mother's favourite bands. She estimates that the songs will earn about $100,000 per year in royalties for at least 5 years. She does not have any plans to acquire additional song rights. Should these royalties be treated as business or property income? How would any gain/loss on the sale of these royalties be taxed? Explain in detail. Ff A B E US x 2