Herman purchased his cottage in $1984$ for $$63,000.$ He never claimed the cottage as his principal residence and never intends to do so$.$ Prior to $1994,$ Herman had never made use of his lifetime capital gains exemption so$,$ he was able to use the maximum exemption in $1994$ when the cottage was valued at $$115,000.$ What will Herman's taxable capital gain be when he sells the cottage this year for $$344,000?$

L

a$)$ $$0$

$($

b$)$

$$114,500$

$$ c$)$ $$140,500$

d$)$

$$281,000$