Rose was the daughter of a race car driver, Siva. Unfortunately, Rose did not have the same passion for cars that her father did. Following her daughter Matteas formal, Rose had the great idea for a business opportunity after being laid off from her job at the Tax Office. She began leasing limousines, and using them to transport people from one party venue to the next, getting regular work 6 days a week. As demand for her services grew, Rose decided to upgrade one of her limousines to a larger one. With the approval of the lessor, an old limousine was sold for a price greater than what was needed to pay out the lessor. This was expected by Rose. In accordance with the lessors normal practice, Rose was allowed to keep the excess. Is Rose carrying on a business, and if so, is the excess amount ordinary income? Group of answer choices Rose is carrying on a business, and the excess is ordinary income. No, it cant be income as Rose is not carrying out a business. Rose is carrying out a business, but the excess is not ordinary income. None of the above Next