Please calculate the rental income for tax purposes.

In July $2022,$ an individual acquires a rental property for $$20,000.$ $$110,000$ is allocated to the land and $$160,000$ is allocated to the building. The property is rented for $$1,800$ per month. Condo fees are $$50$ per month, property taxes are $$1,000$ per year and interest expense for $2022$ is $$6,100.$

Note: the building was acquired after $1987$ for residential use; therefore, a class $1$ asset $($CCA rate $=4\%)$