Juan has a parcel of vacant land that he had purchased as an investment. The land has an adjusted cost base of $144,000 to Juan. The fair market value of the land on January 1 of the current taxation year is

$170,000. On this date, Juan gifts the property to his 14-year-old daughter, Tristana. Tristana subsequently sells the land on December 1 of the current year for its fair market value of $190,000. How much gain will

each recognize on this series of transactions?

Choose the correct answer.

O A. Juan. $46.000; Tristana $0

O B. Juan, $20,000; Tristana, $26,000

O C. Juan, SO; Tristana, $46,000

O D. Juan, $26.000; Tristana, $20.000