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Ms. Jennie Smith owns a house in Ottawa. She purchased the house in 2008 for $116000. In June 2019, she sold the house for $245000
Ms. Jennie Smith owns a house in Ottawa. She purchased the house in 2008 for $116000. In June 2019, she sold the house for $245000 and designated the house as a principal residence for 7 years. Determine the minimum taxable capital gain that she must report on the 2019 sale of the house, after considering the principal residence exemption.
Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.
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