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Question 56 of 75. Arthur renovated his rental property and has the following expenditures: $1,300 for removal and replacement of drywall, $400 for painting

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Question 56 of 75. Arthur renovated his rental property and has the following expenditures: $1,300 for removal and replacement of drywall, $400 for painting the drywall, $500 for an electrician to run cable and replace light fixtures, $150 for light bulbs, and $14,000 to replace all the tile floors. How much of the renovation will be considered an improvement if no special election is made? $14,000 $15,300 $15,700 $16,350

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