A taxpayer sold the following items in the current year:

A block of land on $5$ December for $$118,000.$ He had purchased it for $115,000$ on $9$ July of the current year.

Rental Property on $10$ July for $$350,000.$ He had purchased it for $$200,000$ on $1$ June $2017$ and incurred expenses on the purchase and sale of $$50,000.$ In addition, he had borrowed money to buy the property and incurred borrowing expenses of $$600$ in respect of the loan.

Shares in ABC Pty Ltd on $1$ August for $$4,000.$ The shares had been purchased on $10$ August of the previous year for $$5,000.$

House used as his residence on $1$ June for $$600,000.$ He had bought the house on $1$ June $1999$ for $$48,000.$

State the CORRECT answer for the amount that the taxpayer must include in his assessable income:

Group of answer choices

$$102,000$

$$51,000$

$$52,000$

$$51,500$