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M acquired a home in 20x1 for $350000 and a cottage in 20x5 for $250000. In 20x8 m sold the home for $800000 and the

M acquired a home in 20x1 for $350000 and a cottage in 20x5 for $250000. In 20x8 m sold the home for $800000 and the cottage for $550000. What is the minimum amount to be reported in net income for tax purposes in 20x8?

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