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  3. c sold capital property in year 1 for net proceeds

C sold capital property in Year 1 for net proceeds of $500,000. The property has...

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Accounting

C sold capital property in Year 1 for net proceeds of $500,000. The property has an adjusted cost base of $100,000. C received $200,000 at the time of the sale and a note for the balance to be paid in equal annual instalments over the following three years. What is the minimum taxable capital gain to be reported in Year 2?

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