Juanita rents a vacation condo for 120 days and uses the condo for herself for twenty days. What allocation percentage will Juanita apply to the condo’s operating expenses (for example, insurance, utilities, etc.) to compute the rental portion under the IRS allocation method?

a. 32.8 percent (120/365)

b. 5.4 percent (20/365)

c. 85.7 percent (120/140)

d. 38.4 percent (140/365)