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On November 1, 2020, Miss Stevens sells a capital property for $500,000. The adjusted cost base of the property is $230,000 and she incurs selling

On November 1, 2020, Miss Stevens sells a capital property for $500,000. The adjusted cost base of the property is $230,000 and she incurs selling costs in the amount of $20,000. She receives an immediate cash payment of $200,000 on November 1, 2020, with the balance of the $500,000 to be paid on June 1, 2026. Miss Stevens wishes to use reserves to defer the payment of taxes on capital gains for as long as possible. Required: 

Calculate the amount of the minimum taxable capital gain that would be included in Miss Stevens’ Net Income For Tax Purposes for each of the years 2020 through 2026.

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