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Prior to 2020, Mr. Henry Close has had two capital gains and one capital loss. In 2005, he had a capital gain of $18,000 and in 2007; he had a capital gain of $54,000. In both cases, he used his lifetime capital gains deduction to eliminate the taxable amount of these gains. He has an allowable capital loss from 2008 of $30,000 (a capital loss of $60,000), which he deducts in 2020. He has never experienced a Business Investment Loss. During 2020, he has a $748,000 capital gain on the sale of shares in a qualified small business corporation. Mr. Close has a CNIL balance on December 31, 2020 of $23,000. Required: Determine Mr Close's maximum lifetime capital gains deduction for 2020.