Sita , your client, has provided you with a listing of the transactions she has undertaken throughout the financial year to assist you in completing her 2020 Income Tax return. There was a sale of a block of land for $1,000,000. She purchased the land as an investment in 1991. The purchase price was $250,000 plus $5,000 in stamp duty and $10,000 in legal fees. To fund the purchase, she took out a loan on which she paid interest totalling $32,000. During the period of ownership, her council rates, water rates and insurance totalled $22,000. In January, 2005 a dispute occurred with a neighbour over the use of the land and legal fees incurred amounted to $5,000 in resolving this dispute. Before putting the property on the market, $27,500 was spent to remove a number of large dangerous pine trees that were on the land. Advertising, legal fees and agent's fees on the sale of the land were $25,000. Sita sold her 1,000 shares in Rio Tinto for $50.85 per share. She paid brokerage of 2% on the sale. She initially purchased the shares for $3.50 per share in 1982. Sita sold a stamp collection she had purchased, from a private collector, in January 2020 for $60,000. She sold the collection at auction for $50,000. Auction fees totalled $5,000 for the sale. Sale of a grand piano for $30,000.It was initially bought for $80,000 in 2000. Required: Based on the information above, advise your client of the capital gains tax consequences for each of the transactions stated above. Ignore indexation. Your answer must include references to the relevant tax law and/or cases. a) Determine Sita's capital gain or loss for the sale of land. (7 Marks) b) Determine Sita's capital gain or loss for the sale of shares. (3 Marks) c) Determine Sita's capital gain or loss for the sale of grand piano (3 Marks) d) Determine Sita's Net capital gain or Loss for the 2020 Income Tax return (2 Marks)