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Individual E owns equipment that originally cost $ 6 0 , 0 0 0 and has an undepreciated capital cost of $ 4 0 ,

Individual E owns equipment that originally cost $60,000 and has an undepreciated capital cost of $40,000. E sells the equipment to a corporation for its market value of $50,000. To avoid tax on the transfer a section 85 election is filed by E and the corporation. What is the appropriate section 85 elected transfer price?

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