View the data. Read the requirements. Requirement a. What is the total amount of income and deductions Colby should report for the current year with respect to the rabbit raising activities? Colby's total income is Colby's total deduction is Requirements a. What is the total amount of income and deductions Colby should report for the current year with respect to the rabbit raising activities? b. Identify which expenses may be deducted and indicate whether they are deductions for or from AGI. c. By what amount is the cost basis of the rabbit hutches to be reduced for the year