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Determine the taxable capital gain (loss) on the sale of the Sculpture. Briefly justify your answer/show all workings. (1 Mark) Sculpture Lisa gave a sculpture,

Determine the taxable capital gain (loss) on the sale of the Sculpture. Briefly justify your answer/show all workings. (1 Mark)

Sculpture

Lisa gave a sculpture, valued at $18,900, to her friend in June 2020. The sculpture was purchased for $480 in December 2000 and repaired in March 2016 for $1,250.

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