Art Aubrey owns and operates an apartment building. During 2011, he received the following:
Payment on 6/1/11 for 12 months of advance rent: $4,800
Monthly rent payments: $43,200
Security deposits to be returned to tenants at end of lease: $3,000
Payments for cancelling a lease: $400
Deductible maintenance rental expenses paid by tenants: $600
What is Art's gross rental income?