Question 14 (1 point) Fung Wo purchased vacant land on a remote island off the coast of British Columbia on January 1, 2016 for $50,000. She intended to re-sell it for a profit the next year but due to an oil spill, property values dropped. She was finally able to sell the vacant land for $45,000 on December 31, 2019. In the meantime, she paid property taxes of $500 each year. For 2019 tax purposes, Fung Wo has: An allowable capital loss of $2,500 An allowable capital loss of $3,500 A net business loss of $5,000 A net business loss of $7,000