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Henry owns a qualified farm operation. The ACB of the farm is $ 5 0 0 , 0 0 0 . He sold the property

Henry owns a qualified farm operation. The ACB of the farm is $500,000. He sold the property for $900,000. He never utilized the lifetime capital gains exemption of $950,000. How much taxable capital gains he has to report?
a. $200,000
b. $400,000
c. $0
d. $100,000

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