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Teresa owns a condominium in Florida. During the current year, she incurs the following expenses related to the property. Mortgage Interest Property taxes $10,200
Teresa owns a condominium in Florida. During the current year, she incurs the following expenses related to the property. Mortgage Interest Property taxes $10,200 1,500 Utilities 800 Maintenance fees 1,000 Repairs 600 Depreciation (unallocated) 5,000 Prepare a spreadsheet calculating Teresa's rental income or loss for each of the following cases. The spreadsheet should be prepared so that it will calculate the Frental income or loss by changing the number of rental and personal days. A template to assist the student in solving this problem can be found at www.cengage.com
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