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Calculate net rental income

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Question - Andy owned a rental property in the city. He purchased this property in 2005 at a cost of $120,000. The undepreciated capital cost balance of the building was $85,000 on December 31, 2019. In 2020, he received $12,000 as rent and paid the following expenses: interest - $6,000, property tax - $2,000, other eligible expenses - $3,000. Calculate net rental income.

Reference no: EM132921355

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