$57$

In $2008,$ Francine purchased a cottage in the country for $$110,000.$ During the entire period she has owned

the property, Francine has spent three weeks at the cottage during the summer and approximately one

weekend each month the rest of the year.

Following her marriage a few years ago, Francine, who is $67$ years old, felt it was an opportune time to

downsize her main home. Accordingly, she sold the house she owned in the city and moved into the

apartment rented by her new husband. She claimed her house as her principal residence from $2011$ to

$2016($inclusive$).$

Unfortunately, in $2020,$ Francine had a marital breakdown and she was forced to sell her cottage receiving

proceeds of $$595,000.$

How much of her capital gain on the cottage can she exempt from taxation?

a$)$ $$0$

b$)$ $$242,500$

c$)$ $$298,462$

d$)$ $$485,000$