During December 2019, Mr. Juan Bisaka sells a capital property with an adjusted cost base of $297,983 for proceeds of disposition of $382,000. Selling costs total $17,510. In the year of sale, he receives $88,411 in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid in equal installments for 5 years beginning on December 1, 2020. He receives the 2020 payment in full. Assume that Mr. Bisaka deducts the maximum capital gains reserves.

Determine his taxable capital gain for 2019.

Answer rating: 100% (QA)

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