Mr. Mac gifted 100 shares to his 16-year-old son. The shares originally cost $10.00 each. At the time of the gift, they were worth $15.00 each. Which of the following statements is correct?

a) Mr. Mac must recognize a capital gain.

b) Mr. Mac's son will have an adjusted cost base of $1,000.

c) Mr. Mac does not have to recognize a capital gain.

d) If Mr. Mac's son later sells his shares for $18.00 a share, the gain will be attributed to Mr. White.