Alice, a single woman, buys her home for $200,000 on January 1, 2016. She proceeds to use that home as her principal residence for the next three years. On January 1, 2019, she coverts the home into a 100% rental and rents it out for the year in which it was always occupied by the tenant, On December 31, 2019, she sells the home for $240,000. Disregard selling costs, improvement and repair costs and any other expenses associated with the home including depreciation. How much capital gain will Alice have to recognize (pay taxes on)?