At the end of 2021, Mr. Pippinpaddleopsicopolis sold both his city house and his summer cottage. Every year he has spent at least a portion of the year living in each of the two locations. When he is not residing in these properties they are left vacant. Relevant information on the two properties is as follows: City House Cottage Year acquired 2005 2005 Cost $264,000 S 36,000 Gross proceeds from sale 528,000 330,000 Real estate commissions 32,000 16.000 Mr. Pippinpaddleopsicopolis wishes to minimize any capital gains resulting from the sale of the two properties After applying Principal Residence Exemption, what is the least amount of taxable capital gain Mr. Vaughan would report on his tax return from this scenario? 260,000 232,000 O 116,000 O None of the above