$1.$ Peter dies at age $70.$ At the time of his death, he was married to Anne, out of community of property with the exclusion of the accrual system. In terms of his Last Will and Testament, his flat in Sandton was bequeathed to his wife Anne for her lifetime, after which it was to be passed on to their daughter Jane, should she survive Anne. At the time of Peter's death:

The flat had a base cost of R$500,000\mathrm{.}00$

The flat had a market value of R$4,000,000\mathrm{.}00$

Anne was $65$ years old, and

Jane was $35$ years old,

Anne thereafter dies at age $80,$ and the flat is passed to Jane, now aged $50.$ At the date of Anne's death, the flat had a value of R$8,000,000\mathrm{.}00.$ Jane sold the flat a few years later for R$10,000,000\mathrm{.}00.$ The flat is an investment$/$rental property and was at no time Peter, Anne or Jane's primary residence.

Calculate the capital gain$/$loss in Anne's estate and identify the correct amount. The answer must be rounded off to the nearest rand.

Choose the correct option.

R$403,436\mathrm{.}00$ loss

R$0($no gain or loss$)$

R$96,564\mathrm{.}00$ loss

R$772,514\mathrm{.}00$ loss

None of the above