Hagrid Inc. is subject to an acquisition of control on January 1, 2020. The company has an operating loss of $65,000 in the year prior to the acquisition of control, which cannot be carried back. On December 31, 2019, the company had two assets, a piece of land with an ACB of $150,000 and fair market value of $100,000; and a depreciable asset with a capital cost of $100,000, a UCC of $50,000 and a fair market value of $200,000. Assuming Hagrid will continue in business and will return to profitability in 2020, what election is available to Hagrid Inc. in order to utilize all expiring loss(es) as a result of the acquisition of control ? Show all calculations to support your decision