7. Sarah is a resident of Australia for tax purposes. On 1 March 2017, she purchased an investment property for $800,000, and paid a stamp duty of $40,000 and a legal fee of $1,000. On 1 March 2022, she sold the investment property for $1,000,000, and paid an agency fee of $20,000 and a legal fee of $1,500. In addition to the above, Sarah received a salary of $120,000 and an interest of $1,000 from Commonwealth Bank of Australia during the 2021/2022 income year. (a) Calculate her capital gain for the 2021/2022 income year. (5 marks) (b) Calculate her total tax liability (disregarding any tax offsets and levies) for the 2021/2022 income year