Jane receives an option to purchase shares of ABC Company as a benefit of employmont. The option specifies that Jane can purchases shares for $20 each. On January 1 of the current year, Jane exercises options to purchase 160 shares for $3.200. At the time, the shares are trading for $55 each on a public exchange. Using only this information, what are the tax consequences to Jane when he exercises the stock options? Choose the cortoct answer. A. Jim has a taxable capital gain of $12,000. B. Jim has an adjusted cost base of $20 ishare in the shares of ABC Company. C. Jim has a taxable capital gain of $16,000. D. Jim has an adjusted cost base of \$55/share in the shares of ABC Company