On January 2 of the current year, City M gave the A Corporation $200,000 cash to purchase a building within the city limits. The building was purchased on June 1 of the same year for $150,000. What is the correct method of handling the excess money received? Nontaxable contribution to capital with $50,000 that is not spent being added to the basis of the building that was purchased O O O Reduction of basis in other assets. Short-term capital gain. Long-term capital gain