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Chrome File e Edit View History Bookmarks Profiles Tab Window Help Q Sun May 18 5:28 PM D2L Final Exam - Part 1 - 2025SP- X Question 33 - Final Exam - Pa x Dashboard X + G o ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fconnect.mheducation.... P New Chrome available : All Bookmarks Final Exam - Part 1 i Saved Help Save Exit Submit 33 Glenn is an accountant who races stock cars as a hobby. This year Glenn was paid a salary of $80,000 from his employer and won $2,000 in various races. What is the effect of the racing activities on Glenn's taxable income if Glenn has also incurred $4,200 of hobby expenses this year? Assume that Glenn itemizes his deductions. 2 points Multiple Choice O Increase in taxable income of $2,000 O Increase in taxable income of $1,640 O No change in taxable income O Decrease in taxable income of $560 Mc Graw Hill MAY 18 utv OT W