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Qing recently purchased a residential property to rent for income. The following expenses were incurred: Expense $ Purchase price 350,000 State stamp duty on purchase

Qing recently purchased a residential property to rent for income. The following expenses were incurred: Expense $ Purchase price 350,000 State stamp duty on purchase 25,000 Mortgage Interest 10,000 New carport constructed 30,000 415,000 What is the cost base of the property?

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