Discuss the capital gain/loss for each of the assets, as well as the Net Capital Gain for Brittney (citing authority where appropriate) (4 marks).

Brittney purchased the following in June 2021:

• Shares in HOP Ltd for $200,000
• Shares in KWQ Ltd for $300,000
• A yacht (Brittney loved sailing on weekends) for $100,000
• An antique diamond necklace that she often wears for $80,000

During the time she owned the above assets, Brittney paid a total of $10,000 in insurance for the diamond necklace.

Brittney then makes the following sales of the above items in January 2024:

• Shares in HOP Ltd for $400,000
• Shares in KWQ Ltd for $150,000
• Yacht $90,000
• Antique diamond necklace $60,000