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| Joanne bought a piece of land as an investment for £20,000. The legal costs of purchase were £250. Joanne spent £2,000 on installing drainage pipes on the land which enhanced its value. Joanne sold the land on 12 December 2012 for £35,000. She incurred estate agency fees of £700 and legal costs of £500 on the sale. Required: Calculate Joanne's gain on sale. |