In July 2014, Laura bought an oil painting for £120,000. In October 2020, the painting was damaged by fire. In February 2021, Laura received compensation from her insurance company of £30,000. Compute the chargeable gain or allowable loss arising in each of the following circumstances:

(a) Laura spent none of the insurance money on restoration and the damaged painting was valued at £170,000 in February 2021.

(b) Laura spent £30,000 on restoring the painting in November 2020 and elected that the situation should not be treated as a part disposal.

(c) Laura spent £29,000 on restoring the painting in November 2020 and elected that the situation should not be treated as a part disposal.

(d) Laura spent £20,000 on restoring the painting in November 2020 and elected that the part disposal should relate only to the retained £10,000. The restored painting was valued at £200,000 in February 2021.