1point) Bill is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenant. The tenant made timely monthly rental payments of $500 per month for the months of January through December, 2010. The following expenses were incurred on the entire building: Utilities$3,600 Maintenance and repairs800 Insurance on building600 In addition, depreciation allocable to the rented apartment is $1,500. What amount should Bill report as net rental income for 2010?