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Q9. Cale sold the following assets in 2021: Sale price Cost Painting $2,800 $ 500 Stamp collection 400 1,400 Outboard motor 800 400 Desk

Q9. Cale sold the following assets in 2021: Sale price Cost Painting $2,800 $ 500 Stamp collection 400 1,400 Outboard motor 800 400 Desk 1,100 1,800 Which one of the following amounts represents his taxable capital gain net of allowable capital losses for 2021? A. $500 B. $700 C. $900 D. $350

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