Jacob owns $60\%$ of the shares of DaltonDalton Co$.$ JacobJacob personally owns a parcel of land, which he purchased for $$100,300.$ JacobJacob decides to sell the land to DaltonDalton Co$.$ The fair market value of the land is $$299,600.$ JacobJacob sells the land to DaltonDalton Co for $$200,200$ to minimize his gain. What is the result of this transaction?Question content area bottomPart $1$A$.$JacobJacob will recognize a taxable capital gain of $$49,950,$ and DaltonDalton Co$.$ will have an adjusted cost base of $$299,600$ in the land.B$.$JacobJacob will recognize a taxable capital gain of $$49,950,$ and DaltonDalton Co$.$ will have an adjusted cost base of $$200,200$ in the land.C$.$JacobJacob will recognize a taxable capital gain of $$99,650,$ and DaltonDalton Co$.$ will have an adjusted cost base of $$299,600$ in the land.D$.$JacobJacob will recognize a taxable capital gain of $$99,650,$ and DaltonDalton Co$.$ will have an adjusted cost base of $$200,200$ in the land.