James Brown owns all of the shares of JB Films Ltd. and his adjusted cost base for these shares is $15,000. He has decided to retire, and has wound up his company. After the assets have been sold and all corporate taxes paid and RDTOH received, there is $700,000 available for distribution. The balances in the tax accounts of JB Films Ltd. are as follows:

PUC $20,000

RDTOH 2,000

Capital Dividend Account 99,000

If Mr. Brown properly files all elections that would minimize the tax effect of the distribution, what is the maximum amount he could receive tax free?

A. $119,000.

B. $101,000.

C. $15,000.

D. $1,000.