Michael Sligo purchased a house on 1 July 2015, which he later sold on 30 june 2020. The property has been rental property for Mich Details of the purchase price of the property and its associated expenses are provided below: . purchase price of house $250,000 (construction cost could not be obtained) . stamp duty on loan $1,000 . stamp duty on transfer paid on purchase $14,500 . legal fees on purchase of property $3,500 . Repair expenses (gutter repaired on 8 July 2015) $2,800 . interest deductions claimed (entire period) $64,200 . council rates deductions claimed (entire period) $24,000 . installation of new garage (installed on 1/7/16) $35,000 . insurance expense (entire period) $10,080 . real estate agent's fees on sale $9,100 Required: Advise Michael which of the above items are to be included in the cost base of the house. Provide reasons for any items excluded from the cost base