Q. Solve the below problems and please no copy from the textbook

A.

B.

C.

Colin, a self-employed consultant, uses a room of his home as a business office. This room represents 10 percent of the home's square footage. This year, Colin incurred the following expenses in connection with his home. Home mortgage interest $12,980 Property tax on residence 2,200 Homeowner's insurance1,475 Utilities 2,100 Furnace repairs 300 Colin purchased the home in 2000 for $225,000. For MACRS depreciation purposes, he allocated $185,000 to the building and $40,000 to the land. a. If Colin's gross business income exceeded his operating expenses by $75,000, compute his net profit for the year