Carl Fenson of Winnipeg owns three taxicabs that operate for 24 hours a day (two shifts of 12 hours). Carl works one shift himself and hires drivers for the other shifts. In addition to the normal taxi licence, prior to 2022 a special licence was required to deliver passengers to Winnipeg International Airport. This special licence was referred to as a “one-way” licence because it could be used to deliver passengers to the airport but not to pick up customers there. The licences were issued for 10-year renewable terms. 

In 2020, Carl purchased three additional airport licences for $10,000 each, even though he did not have vehicles for their use. He immediately resold two of the licences for $18,000 each to a relative. Shortly thereafter, he purchased a minivan, assigned the third new licence to that vehicle, and rented the van with the licence to a third party. 

In 2022, Transport Canada converted all one-way licences to two-way licences. In response to an unsolicited offer, Carl cancelled the van lease and sold the third licence for $45,000.

Required: 

What type of income did Carl earn from the licence sales? Explain.