[The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa...
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[The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $1,000 Advertising expense 500 Mortgage interest 3,500 Property taxes 900 Repairs & maintenance 650 Utilities 950 Depreciation 8,500 During the year, Natalie rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Assume there are 365 days in the year. rev: 09_23_2014_QC_54690, 09_24_2014_QC_54690
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