Mr. Jerry Haggard owns a house in Calgary, as well as a cottage in Canmore. He purchased the house in 2011 for $186,000. The cottage was purchased in 2014 for $105,000. In December, 2022, both properties are sold, the house for $263,000 and the cottage for $197,000. He has lived in the Calgary house during the year, but has spent his summers in the Canmore cottage, as such both properties qualify as his principal residence. Use the principal residence exemption in the most advantageous manner to minimize his income tax and determine the minimum capital gain that must be included in his 2022 income as a result of the sale of the two properties. Show supporting calculations to receive marks. If your final answers do not match your supporting calculations, marks may not be awarded given the discrepancies.