Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the current year Junior: Personally stayed in the home for 36 days. Rented it to his favorite brother at a discount for 12 days. Rented it to his least favorite brother for 9 days at the full market rate. Rented it to his friend at a discounted rate for 12 days. Rented the home to third parties for 52 days at the market rate. Did repair and maintenance work on the home for 2 days. Marketed the property and made it available for rent 140 days (but did not rent it out) during the year, in addition to the days mentioned above. How many days of personal use and how many days of rental use did Junior experience on the property during the year

Days of personal use 69 days

Days of rental use 54 days

Explanation:

Calculation to determine How many days of personal use and how many days of rental use did Junior experience on the property during the year

Calculation for DAYS OF PERSONAL USE using this formula

Days of personal use=Days used personally+ Rented to favorite brother+Rented to least favorite brother+Rented to friend

Let plug in the formula

Days of personal use=36 days+12 days+9days+12 days

Days of personal use=69 days

Calculation for DAYS OF RENTAL USE using this formula

Days of rental use=Rented to third parties+Home repair and maintenance work

Let plug in the formula

Days of rental use=52 days+2 days

Days of rental use=54 days

Therefore Junior experience 69 days of personal use and 54 days of rental use during the year

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