In February 2014, Maria bought a diamond necklace for £13,500. In 2017 the necklace was stolen and, as a result, an insurance payment of £14,000 was received in February 2018. In the same month, Maria spent £14,750 on the purchase of a replacement necklace and claimed that the disposal of the original necklace should give rise to neither a gain nor a loss. Compute the chargeable gain arising in January 2024 when the replacement necklace was sold for £20,000.