Q1: During the income year, Mary made the following capital gains:

a.Capital gain of $20,000 on the sale of his shares in X Co (this is not a discount capital gain)

b.Capital gain of $15,000 on the sale of his shares in Y Co (this is a discount capital gain. He is eligible for a 50% discount)

He also made a capital loss of $15,000 on the sale of his land and he has a net capital loss from last year of $1,000. Required: Calculate Mary's net capital gain