39. Martin earned a salary of $200,000 and Martin incurred $20,000 of qualified home mortgage interest on his principal residence. During the year, Martin rented his vacation home for three months and spent one month there. Gross rental income from the property was $5,000. Martin incurred the following expenses: mortgage interest, $3,000; real estate taxes. $1.500; utilities, $800; maintenance, $500; and depreciation, $4,000
Compute Martin's taxable income, using the IRS's approach to calculate incomerdeductions for the vacation home