Chi transferred a non-depreciable capital property to her wholly owned corporation, electing under subsection 85(1). The property was valued at $25,000 and had an adjusted cost base to Chi of $15,000. The property was mortgaged for $5,000. As consideration for the transfer, Chi received cash of $20,000 and a preferred share worth $1,000. The corporation assumed the mortgage. Which one of the following choices represents the elected transfer price that will result on the transfer and the adjusted cost base of the share, respectively?

a.	$26,000 and $5,000
	b.	$25,000 and $24,000
	c.	$25,000 and nil
	d.	$15,000 and nil