Bass Ltd., a Canadian-controlled private corporaon, sold two parcels of land during its 2023 taxaon year. Details of each transacon are as follows: 1. Bass sold a one-hectare site in Otawa for $200,000. They received the full price in cash. They had purchased the land five years before for $160,000. Bass had intended to construct a warehouse on the land for the purpose of storing inventory for its 12 retail stores. Subsequently, they decided that the warehouse should be located in Sudbury; for this reason, Bass sold the Otawa site. 2. Bass sold a two-hectare site in Guelph for $600,000. They had purchased the land two years previously for $320,000, with the intenon of selling it aer property values increased