Rentals R Us incurs the following expenditures on an apartment building it owns:
Items _____________________________________ Amount
Replace the roof ........................................$25,000
Repaint the exterior .................................... 7,000
Install new locks ....................................... 1,500
Replace broken windows ............................. 1,200
Replace crumbling sidewalks and stairs ............ 7,000
Discuss the proper tax treatment for these expenditures.