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Reggie and Bebe own an apartment building in Portland, Oregon, with a identical units. They live in one and rent the remaining units. Their rental,
Reggie and Bebe own an apartment building in Portland, Oregon, with a identical units. They live in one and rent the remaining units. Their rental, income for the year was $45,000. They incurred the following expenses for the entire building:
Advertising for available units. $850
Maintenance. $9,000
Repairs. $7,500
Utilities. $12,000
Depreciation. $8,000
What amount of net income should Reggie and Bebe report for the current year for this rental? (Round your answer to the nearest whole dollar).
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