Using ITA 85, Ms. Robyn Tunney transfers non-depreciable capital property to a corporation at an elected value of $91,200. The property has an adjusted cost base of $91,200 and a fair market value of $187,200. As consideration, she receives a note for $66,400, preferred shares with a fair market value and legal stated capital of $77,600, and common shares with a fair market value and legal stated capital of $43,200. Indicate the adjusted cost base and the PUC of the preferred and common shares that were issued to Ms. Tunney.

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The Answer of Using ITA 85, Ms. Robyn Tunney transfers non-depreciable capital property to a corporation at an elected value of $91,200. The property has an adjusted cost base of $91,200 and a fair market value of $187,200. As consideration, she receives a note for $66,400, preferred shares with a fair market value and legal stated capital of $77,600, and common shares with a fair market value and legal stated capital of $43,200. Indicate the adjusted cost base and the PUC of the preferred and common shares that were issued to Ms. Tunney.