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| Norma bought a freehold shop for use in her business in June 2011 for £125,000. She sold it for £140,000 on 1 August 2012. On 10 July 2012, Norma bought some fixed plant and machinery to use in her business, costing £150,000. She then sells the plant and machinery for £167,000 on 19 November 2014.Required: Show Norma's gains in relation to these transactions. |