Ivana and luke own a cottage in addition to their city home. They designate their city home as their principal residence.. they paid $220000$ for the cottage in $1985$ and they spent $200000$ on an addition to the cottage$,$ which increased the adjusted cost base of the cottage$..$ by $1997$ the property was worth $450000.$ They sold the property for $470000$ in january of this year. They did not designate their cottage as their principal residence for any years. What is their taxable capital gain on the cottage$?$