Reggie and Bebe Own an Apartment Building in Portland,Oregon,with 8

question 81

Multiple Choice

Reggie and Bebe own an apartment building in Portland,Oregon,with 8 identical units.They live in one and rent the remaining units.Their rental income for the year was $45,000.They incurred the following expenses for the entire building: $\begin{array}{lr}\text { Advertising for available units } & \$ 50 \\\text { Maintenance } & 9,000 \\\text { Repairs } & 7,500 \\\text { Utilities } & 12,000 \\\text { Depreciation } & 8,000\end{array}$ What amount of net income should Reggie and Bebe report for the current year for this rental? (Round your answer to the nearest whole dollar)

• A)$7,650
• B)$12,213
• C)$38,350
• D)$45,000

Recognize the importance of persuasive writing in legal contexts.

Understand formatting requirements for different legal documents.

Understand how a per unit tax affects the pricing decisions of a monopolist in comparison to a competitive market.

Understand the concept of profit maximization and how it is determined by the equality of marginal cost and marginal revenue in monopolistic firms.

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Definitions:

Gender Differences

The distinctions in characteristics and behaviors typically associated with being male or female.

Specific Individuals

Refers to distinct or particular persons who are identified or singled out in a given context.

Alcoholism

A chronic disease characterized by uncontrolled drinking and a preoccupation with alcohol despite adverse consequences.

Prevalent

Widespread or commonly occurring; frequently encountered.