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M acquired a home in 20X1 for $410,000 and a cottage in 20X5 for $350,000. In 20X8 M sold the home for $950,000 and the

M acquired a home in 20X1 for $410,000 and a cottage in 20X5 for $350,000. In 20X8 M sold the home for $950,000 and the cottage for $750,000. What is the minimum amount to be reported in net income for tax purposes in 20X8?

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