On September 1, 2021, Snow Inc., a Canadian private corporation, purchased all the shares of Frost Inc. from a person with whom it dealt at arm's length. Immediately before the purchase, Frost had a net capital loss carryover of $40,000. Also, Frost at that time owned a non-depreciable capital property with an adjusted cost base of $10,000 and a fair market value of $120,000. It has no intention of selling this property. In the circumstances, which of the following is the best recommendation for using the net capital loss? An election can be made for the capital property to be deemed to have been disposed of for $90,000 immediately before the purchase of the shares An election can be made for the capital property to be deemed to have been disposed of at fair market value immediately before the purchase of the shares The net capital loss can be converted to the business loss if conditions are met. The net capital loss can be used against future capital gains