Question 3 On 15 January 1981 John bought a property to use as his home. The home cost him $120,000. He lived in it for the entire period of time he owned it. He paid $2,000 in stamp duty in January 1981. He sold the property for $320,000 in October 2012 as he intended to move overseas. He paid commission of $4,600 to the real estate agent and advertising costs of $400. These expenses were paid in October 2012. Required: Calculate Johns Net Capital Gain