Alexis owns a building that originally cost $140,000, has an Undepreciated capital cost (UCC) of $110,000 and Fair Market Value (FMV) of $200,000. Alexis would like to transfer the property to a corporation using the Roll-over provision for a cash payment which she would need for another investment opportunity. As a result, Alexis and the corporation made a Section 85 of Income Tax Act election with respect to the transfer and Alexis received $120,000 cash and preferred shares (P/S) with value of $80,000. Required: Determine the following: a) Minimum elected transfer price under Section 85 of Income Tax Act b) Income for Alexis that resulted from this transfer of asset, if any. c) Total PUC value of Preferred shares given to Alexis d) Explain to Alexis, what she could have done differently, to avoid any immediate tax implications (if any) from this transaction.