Ravi sold the following items during the 2020-21 income year. All these items were used by Ravi solely for personal use and enjoyment. None of these transactions are on revenue account.

Item	Acquisition Cost	Acquisition Date	Sale Proceeds	Sale Date
Jewellery	$3,800	12 June 2020	$5,800	18 May 2021
Lounge Suite	S2,400	25 February 2016	S400	12 December 2020
Sculpture (1)	510,800	29 June 2018	522,800	25 May 2021
Motor vehicle	S9,800	23 April 2016	$3,200	12 April 2021

Notes

1. Ravi borrowed money to purchase this sculpture. He paid interest of $3,000 during the period of ownership of the sculpture.
2. Aside from the interest on the loan in respect to purchase of the sculpture, no other expenses were incurred in respect to the other items.

Ravi had an unused net capital loss of S4,000 for the 2016-17 income year. This loss was from the sale of a painting used for personal use and enjoyment. The above are the only relevant transactions for the 2020-21 income year. On the assumption that Ravi wishes to lower his net capital gain for the 2020-21 income year, which of the following is the most correct statement in respect to Ravi's net capital gain or net capital loss for the 2020-21 income year.

O a. Ravi has a net capital gain of S2,600.

O b. Ravi has a net capital gain of S6,000.

O c. Ravi has a net capital gain of 53,500.

O d. Ravi has a net capital gain of S5,000.