Linda has operated a sole$-$proprietorship for five years. Linda owns equipment that originally cost $$300,000,$ has an Undepreciated Capital Cost $($UCC$)$ of $$160,000$ and Fair Market Value $($FMV$)$ of $$210,000.$ Linda would like to transfer the property to a corporation using the Roll$-$over provision for a cash payment. As a result, Linda and the corporation made a Section $85$ of Income Tax Act election with respect to the transfer and Linda received $$180,000$ cash and preferred shares $($P$/$S$)$ with value of $$30,000.$

a$)$ Required: $(7$ Marks$)$ Determine the minimum elected transfer price, PUC of the preferred shares under Section $85$ of Income Tax Act.

b$)$ Determine the tax consequences for Linda $($income type and amount, if any$).$

c$)$ Explain to Linda, what she could have done differently, to avoid any immediate tax implications $($if any$)$ from this transaction.

d$)$ Should Linda use the Section $85$ of Income Tax Act, if the FMV of the above noted Building is $$140,000$