Jason Transferred a Piece of Land He Held Personally to a Corporation

Jason transferred a piece of land he held personally to a corporation in which he owned all of the shares using the provisions of ITA 85. The adjusted cost base of the land was $60,000 and it had a fair market value of $120,000 at the time of the transfer. In order to utilize a capital loss, Jason elected a transfer price of $105,000. What is the adjusted cost base of the land to the corporation?

A) $60,000
B) $82,500
C) $105,000
D) $120,000