2. In 2013, Barney purchased a holiday home near the beach for use by his family on weekends for $900,000. Barney was required to pay $70,000 stamp duty in respect of the transfer. He borrowed money from a bank to fund some of the purchase price and paid $45,000 in Interest on the loan. Last year, he also paid $23,000 to a builder to renovate the kitchen in the property. The next door neighbour was not happy that Barney cut down a big tree in Barney's backyard without obtaining prior Council's approval and reported Barney to the council. To this end, Barney is involved in a legal dispute with the Council and he paid legal cost $23,000 to defend the Council's legal proceedings against him. Required: what's the cost base of the property