Question: 8 2 points 01:56:22 D owns a building that originally cost $300,000 and has an undepreciated capital cost of $250,000. D sells the building

8 2 points 01:56:22 D owns a building that originally cost $300,000

8 2 points 01:56:22 D owns a building that originally cost $300,000 and has an undepreciated capital cost of $250,000. D sells the building to a corporation in exchange for debt of $250,000 and preferred shares of $100,000. D and the corporation file a section 85 election and elect the minimum transfer price. Subsequently, the corporation sells the building for $360,000. What is the taxable capital gain earned by the corporation from the sale of the building? eBook References

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