Mr. Chan decided to rent out one of his properties, and spent $200,000 to renovate the property in order to maximize the rental income. He finally rented the property for $50,000 per month for a three year term starting from 1 January 2022. How much can he claim for statutory deduction under property tax for the year of assessment 2023/24? Question 4Select one: a. $30,000 b. $120,000 c. $200,000 d. None of above