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can you solve this for taxation On Aprill 1 of this year, Mr. X sold a parcel of land, capital property with an adjusted cost
can you solve this for taxation
On Aprill 1 of this year, Mr. X sold a parcel of land, capital property with an adjusted cost base of \\( \\$ 100,000 \\), for \\( \\$ 600,000 \\). The \\( \\$ 600,000 \\) proceeds were payable in the form of a mortgoge, with principal payments of \\( \\$ 90,000 \\) due every six months, starting on October 1 of this year. Required: What is the minimum taxable capital gain that Mr. X must report in the current year using the capital gain reserve provision Step by Step Solution
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