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During the year, Rashad sold two assets: a vehicle which was sold for $20,000 that originally cost $23,000 and a cottage (it will NOT be
During the year, Rashad sold two assets: a vehicle which was sold for $20,000 that originally cost $23,000 and a cottage (it will NOT be elected as principal residence) which sold for $200,000 and originally cost $125,000. What is Rashad's taxable capital gain as a result of these transactions?
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