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What is the adjusted cost base of the shares

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Question - Individual H sold a non-depreciable capital asset, with an adjusted cost base of $90,000 and a current value of $150,000, to a corporation. H received a note for $50,000 and shares of the corporation valued at $100,000. To avoid any tax on the transfer, a section 85 election was filed by H and the corporation. What is the adjusted cost base of the shares of the corporation received by H?

Reference no: EM133127083

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