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Question - Jeremy was a sales representative for ValueCo for eight years. According to his employment agreement, he received 100 shares in the company at the end of any year in which he exceeded his sales quota of $1.5 million. He exceeded the quota in his third, fifth, sixth and seventh year of employment. The market value of the shares, which is his ACB of the shares, at the end of the third year was $6.00; at the end of the fifth year $5.76; at the end of the sixth year $7.01; and $7.45 at the end of the seventh year. Three years after Jeremy left ValueCo, he sold the shares when the current market value was $7.73. What is the amount of Jeremy's taxable capital gain or allowable capital loss from the sale of his shares in ValueCo?
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