Question 8 2 pts David decided to pursue a hobby of making barn doors in his spare time. He uses a home studio comprising 20% of the home's square footage. In connection with his hobby during 2021, David gathered this list of his expenses: Wood and plastic materials Nails and glue expenses Tools Home studio expenses: Total home property taxes Total home mortgage interest Total home maintenance and utilities Total depreciation $4,600 $750 $1,900 $1,000 $12,000 $3,500 $8,000 During the year, David earned a total of $11,560 as a result of selling the barn doors to his customers. If the activity is held to be a hobby, what is the amount of hobby expenses that are considered itemized deductions and currently not deductible? $7,950 $2,600 $8,960 $1,600 O $11,560