Mr. Bob McPipd owns a home in Edmonton as well as a cottage at Pigeon Lake. He purchased the house originally for $250,000, and the cottage was purchased for $120,000. Bob lived in the Edmonton 5 house during the year, but spent six weeks each summer at the cottage. During the current year, both properties sold: the house for $400,000 and the cottage for $250,000. B Bob informs you that he owned the house for 16 years and the cottage for 13 years. 0 10

Required: What is the minimum capital gain Bob must report on the sale of the two properties 11 in the current vear?