Pi owns 75% of the common shares of an investment holding corporation and the remainder of the shares is owned by his daughter. In this year, Pi transferred portfolio shares that cost him $11,000 and were worth $17,000, electing at $11,000 under subsection 85(1). As consideration for the transfer, he received a promissory note for $11,000 and preferred shares with a retraction value of $4,000. Which one of the following choices represents the elected transfer price and the adjusted cost base of the preferred shares, respectively?

A.) $13,000 and nil

B.) $11,000 and $4,000

C.) $11,000 and $6,000

D.) $13,000 and $4,000