Determining the net capital gain, Finance Basics

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Determining the net capital gain

Question: Dan purchased an investment property in 2011 for $400,000. During the period of ownership he spent $20,000 on rates and repairs. Of this amount he claimed $5,000 as tax deductions because he had periodically rented out the property. He sold the property in 2022 for $600,000. Dan's net capital gain is:

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