Multiple Choice
Tyler has rented a house from Camarah since last year.The rent is usually $1,200 per month,but Camarah reduced the monthly rent down to $200 for all twelve months this year in exchange for Tyler putting in an inground pool in the backyard.The improvement has a fair market value of $20,000.How much total rental income must Camarah report this year?
A) $14,400
B) $12,000
C) $2,400
D) $22,400
Correct Answer:
Verified
Correct Answer:
Verified
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