On 29 September 2022, Kate borrows $500,000 from Westpac. She used these funds to start her own coffee shop. The loan was for a period of 10 years. On the same date she took out this loan, Kate incurred loan establishment fees totalling $3,500. As at 30 June 2023 , Kate paid interest totalling $20,000 in respect of this bank loan for the period 29 September 2022 to 30 June 2023, being 275 days. What is the TOTAL amount that Kate can claim as a deduction for the 2023 income year? $20,264 $20,000 $20,527 $23,500