Jace owns 60% of the shares of Danbury Co. Jace personally owns a parcel of land, which he purchased for $ 99 comma 700. Jace decides to sell the land to Danbury Co. The fair market value of the land is $ 300 comma 400. Jace sells the land to Danbury Co for $ 200 comma 300 to minimize his gain. What is the result of this transaction? Question content area bottom Part 1 A. Jace will recognize a taxable capital gain of $ 50 comma 300, and Danbury Co. will have an adjusted cost base of $ 300 comma 400 in the land. B. Jace will recognize a taxable capital gain of $ 100 comma 350, and Danbury Co. will have an adjusted cost base of $ 300 comma 400 in the land. C. Jace will recognize a taxable capital gain of $ 50 comma 300, and Danbury Co. will have an adjusted cost base of $ 200 comma 300 in the land. D. Jace will recognize a taxable capital gain of $ 100 comma 350, and Danbury Co. will have an adjusted cost base of $ 200 comma 300 in the land