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Determine the capital gain that mary should include

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Question - Mary Astor purchases a home on 16/8/1993 for $200,000 and lives there until 21/3/2016.  She then rents the property to tenants until it is sold on 15/2/2021 for $480,000. Its value at 21/3/2016 was $390,000. Determine the capital gain that Mary should include in her assessable income?

a. $95,000

b. $45,000

c. $Nil as the property is exempt from CGT

d. $90,000

Reference no: EM133068728

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