carlen invests in vacant land for the purpose of realizing a profit on its appreciation. carlen leases the land during the period it is held. the unadjusted basis of the property is $20,000, and its fair market value is $30,000. the lease payments are $350 per year. which of the following statements is true? a.the leasing activity will be treated as a rental activity and will not be treated as a passive activity if carlen devotes more than 500 hours to the activity. b.the leasing activity will be treated as a rental activity because it generated more than $100 per year. c.the leasing activity will be treated as a rental activity and as a passive activity, regardless of how many hours carlen participates. d.the leasing activity will be treated as a rental activity and will not be treated as a passive activity if carlen qualifies as a real estate professional. e.the leasing activity will not be treated as a rental activity.