3 1 pts Rex borrowed $20,000@ 12.6% (flat rate) p.a. for 5 years to buy a car. Repayments are for interest only. His records show the car is used 75% in the course of his employment. If the loan was taken out on 1 July of the current income year and the first repayment was made on the same day and then monthly until 1 December and then 8 months in advance on 1 January CY. Rex will obtain a deduction of $2205. Note: Individuals and SBE taxpayers are treated the same. True False