Problem: On 25 June CY, Clare sold one of her residential rental properties for $505,000. The property had initially cost her $330,000 on 30 March 2000. Throughout the period of ownership, Clare incurred the following costs in relation to the property: Rates and taxes totalling $12,000 Insurance totalling $6,000 Repairs to the dishwasher totalling $500 Stamp duty on purchase settlement totalling $1,700 Replacement of curtains and carpets totalling $3,000 Installation of a new 1.5m brick wall fence totalling $6,300 Based on the above facts and relevant tax laws, how should the sale of this residential rental property be treated for tax purposes? (select the best answer) A net capital gain of $72,750 arises in relation to CGT Event A1 and following application of the 50% general discount A net capital gain of $82,000 arises in relation to CGT Event A1 and following application of the 50% general discount A net capital gain of $145,500 arises in relation to CGT Event A1 A net capital gain of $164,000 arises in relation to CGT Event A1