45 Mr. White gifted 100 shares to his 16-year-old son. The shares originally cost $10.00 each. At the time of the gift, they were worth $15.00 each. Which of the following statements is correct? a) Mr. White must recognize a capital gain. b) Mr. White's son will have an adjusted cost base of $1,000. c) Mr. White does not have to recognize a capital gain. Od) If Mr. White's son later sells his shares for $18.00 a share, the gain will be attributed to Mr. White.