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Accounting

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4 10 12 24 13 25 260 14 15 27 16 29 18 300 190 20 21 22 23 SAVE ANSWER Question 16 1 points Sarah runs a retail business and purchased a new building for $320,000 in which to operate her business. On 1 February 2020 she borrowed $280,000 for 15 years to fund the purchase. Borrowing expenses incurred by Sarah in relation to the loan amounted to $1,200. As the building had excess floor space not being used by Sarah, she decided to lease this area out to another retail business. The area leased out amounted to 20% of the total area of the building. Sarah incurred $620 of legal expenses to have a lease drawn up by her solicitor. Based on these expenses, what amount can Sarah claim as tax deductions for the borrowing and legal expenses in the year ended 30 June 2020 (to the nearest dollar)? O $720 $860 O $130 $240 $750 Activate Windows . A Moving to another question will save this response 2:36 PM 21/02/20 o E

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