Randolph and Tammy own a second home. They spent 45 days there and rented it for 88 days at $157 per day during the year. The total costs relating to the home include the following: (Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value). Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $4,640 1,270 1,905 2,405 1,535 6,640 a. What is the tax treatment of these items relating to second home under Tax Court allocation method? b. What is the tax treatment of these items relating to second home under IRS allocation method? c. Which of the methods is preferred? Complete this question by entering your answers in the tabs below. Required a Required b Required What is the tax treatment of these items relating to second home under Tax Court allocation method? Tax Court Method - Schedule E Personal Income Mortgage interest Property taxes Insurance Utilities Repairs Depreciation Net rental income Required a Required b > Required a Required b Required a What is the tax treatment of these items relating to second home under IRS allocation method? IRS Method -Schedule E Personal Income Mortgage interest Property taxes Insurance Utilities Repairs Depreciation Net rental income Required a Required b Required Which of the methods is preferred? Preferred method