During the 2020 tax year, Salomie borrowed money to buy an investment property. The property was immediately rented out. She recorded the following expenses: At the time of purchase, the roof was...

Extracted text: During the 2020 tax year, Salomie borrowed money to buy an investment property. The property was immediately rented out. She recorded the following expenses: At the time of purchase, the roof was damaged. She spent $100,000 to replace the entire roof. Two months after moving in, tenants reversed into the fence. Salomie paid $500 to repair the fence. She paid $20,000 interest on her borrowings from the bank. Required: Advise Salomie of her allowable deductions for the 2020 income year. You must refer to relevant law and show calculations.