Question 3 0 out of 2 points James runs manufacturing business. In the current year he paid $700 to a bank in connection with a loan to buy new manufacturing plant. The loan was for 6 years commencing on 1 February of the current income year, and the payment consisted of $500 application fee and $200 legal expenses to draw up the loan agreement. James can claim a deduction of [A] in the current financial year. Please complete the blank with just the figure without any dollar signs