$($B$)$ Determine the components of the distribution to the shareholder.

$($C$)$ Compute the taxable capital gain or allowable capital loss on the disposition of Ms$.$ Bast's

shares on the winding$-$up$.($Assume the adjusted cost base of Ms$.$ Bast's common shares is

$$100,000.)$

$($D$)$ Explain the conditions for and advantages of using a section $22$ election.