P $8-5($Capital Gains Reserves$)$

On November $1,2023,$ Ms$.$ Stevens sells a capital property for $$500,000.$ The ACB of the property

is $$230,000$ and she incurs selling expenses in the amount of $$20,000.$ She receives an immediate

cash payment of $$200,000$ on November $1,2023,$ with the balance owing of $$300,000$ to be paid

in full on June $1,2029.$

Ms$.$ Stevens wishes to use capital gains reserves to defer the payment of income tax on capital

gains for as long as possible.

Required: Calculate the amount of the minimum taxable capital gain that would be included in

Ms$.$ Stevens$$ net income for $2023$ up to and including $2029.$