Mr. Patel transfers land with an adjusted cost base of $75,000 and a fair market value of $200,000 to a new CCPC in which he is the sole shareholder. He takes back consideration which includes debt with a fair market value of $140,000 and redeemable preferred shares with a fair market value and legal stated capital of $160,000. The elected transfer price is $200,000. The immediate increase in Mr. Patels income would be:

$0

$100,000

$112,500

$162,500