Rick owns a residential property which he lets out during the tax year 2020/21. Total rental income before deducting allowable expenditure is 9,000. Rick incurred the following expenditure in relation to his property letting business during the tax year 2020/21. Mortgage interest 1,100 Loft extension 6,500 Insurance 500 What is the net property income taxable in 2020/21 after deducting all available allowances? Select one: a. 8,500 b. 8,225 c. 900 d. 7,400