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62500 is thr andwer. how do i get it M acquired a home in 20X1 for $400,000 and a cottage in 20X5 for $300,000. In

62500 is thr andwer. how do i get it image text in transcribed
M acquired a home in 20X1 for $400,000 and a cottage in 20X5 for $300,000. In 20X8 M sold the home for $900,000 and the cottage for $600,000. What is the minimum amount to be reported in net income for tax purposes in 20X8? 5

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