Rakesh is a resident adult taxpayer and has a taxable income for the year ended 30 June 2020 of $95,000 and a Reportable Fringe Benefit of $7,000. He has an outstanding HELP debt of $3,000 from his undergraduate degree.

Which of the following represents the amount of HELP debt Rakesh will have to pay based on his 2020 Repayment Income:

a) Nil

b) $3,000.00.

c) $7,650.00.

d) $6,650.00.

e) $7,125.00.