William owns 100% of the issued common shares of W Ltd., which have an adjusted cost base (ACB) and paid-up capital (PUC) of $100 and are currently worth $200,000. William wants Victor to acquire a 50% interest in W Ltd. Victor can acquire his 50% interest by purchasing shares from William or by purchasing previously unissued shares from W Ltd.
For both alternatives, determine the purchase price for Victor, the ACB and PUC of the shares acquired by Victor, and the tax implications for William. Income tax reference: ITA 89(1).