Mary and Charles have owned a beach cottage on the New Jersey shore for several years and have always used it as a family retreat. When they acquired the property, they had no intentions of renting it. Because family circumstances have changed, they are considering using the cottage for only one week a year and renting it for the remainder of the year. Their AGI approximates $100,000 per year, they are in the 30% tax bracket (combined Federal and state), and their total itemized deductions exceed the standard deduction amount. Interest and real estate taxes total $8,000 per year and are expected to continue at this level in the foreseeable future. If Mary and Charles rent the property, their incremental revenue and expenses are projected to be: