1. During 2013, Ms. Helm acquired two tracts of land near Ottawa. Tract A cost $71,000, while Tract B cost $87,000.

On July 1, 2020, Tract A is sold for $117,000. The terms of the sale require a down payment of $17,000. A payment of $25,000 is required each year commencing on January 1, 2021.

Also on July 1, 2020, Tract B is sold for $116,000. The terms of the sale require a down payment of $32,000. No further payment on the principal amount is required for five years.

Required: Determine the amount of the minimum taxable capital gain that will have to be included in Ms. Helms Net Income For Tax Purposes for both 2020 and 2021.