You, the investor, purchase a property that has a projected net operating income of $12,000....
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Accounting
You, the investor, purchase a property that has a projected net operating income of $12,000. The property has a mortgage of $95,000; a 5% interest rate; and, monthly payments of $555.00. The cost recovery for the first year is $2,500. What is the taxable income for the first year?
A. $4,794 B. $4,899 C. $9,885 D. $9,950
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