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What is the cost base of the property

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Question - In 2018, Greg purchased an investment property in the heart of Melbourne for $150,000. He was required to pay $30,000 transfer cost in respect of the transfer of the property. He borrowed money from a bank to fund some of the purchase price and paid $25,000 in interest on the loan. He also paid $62,000 to a builder to renovate the master bedroom and driveway in the property. What's the cost base of the property?

a. $117,000

b. $205,000

c. $267,000

d. $150,000

Reference no: EM132741163

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