Mary Jane borrowed money from the bank to purchase an investment portfolio. During the current year, Mary Jane paid interest on the bank loan of $$250.$ Mary Jane$$s investment portfolio earned the following during the current year:

Interest income of $$500($$$150$ of this interest income was reported on a previous year$$s income tax return according to the modified accrual approach$)$

Actual dividends of $$1,200($assume the applicable dividend gross$-$up rate is $38\%)$

Which of the following is the correct amount of net property income to include on Mary Jane$$s income tax return for the current year?

$$1,550$

$$2,006$

$$1,656$

$$1,756$