Hugo owns a farm. Both Hugo and his son work on the farm raising sheep. On February 16, 2022 Hugo sold a shearing machine to his son for $5,000. The original cost of the machine was $10,000, the UCC is $8,000 and the FMV is $5,000. The machine was the last property in its CCA class. On September 1, 2022, his son took the machine to an auction in another province where an enthusiast bidder paid $6,000 for it. The income tax consequences to Hugo and his son are: O a. Hugo has a terminal loss of $3,000 and his son has recapture of CCA of $1,000. O b. Hugo has a terminal loss of $3,000 and his son has a taxable capital gain of $500. O c. Hugo has no income tax consequences and his son has a terminal loss of $2,000. O d. Hugo has a terminal loss of $2,000 and his son has no tax consequences