D - Gov

The rental income from July 1990 was $9,500. 20. On 30 May 1990, the Company purchased yet another property, Property 4, at a cost of $1,245,000. A mortgage loan of $1,200,000 was taken out giving rise to a monthly instalment payment of $11,943. This property was not completed until 30 June 1991 so that there was no rental income until July 1991. ................
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