Several years ago, ACD Co. transferred vacant land with a cost base of $ 86 comma 000 to EFD Inc. for its fair market value of $ 61 comma 000. In the current year, EFD Inc. sold the vacant land to an unaffiliated person for its current fair market value of $ 39 comma 000. ACD Co. is solely owned by Mr. Schaefer and 100% of the voting shares of EFD Inc. are owned by Mr. Schaefer's spouse. What are the tax consequences for both ACD Co. and EFD Inc. in the current year? Question content area bottom Part 1 A. EFD Inc. will recognize a $ 19 comma 500 loss in the current year. There are no tax consequences for ACD Co. since it was not involved in the sale transaction in the current year. B. EFD Inc. will recognize a $ 50 comma 000 loss in the current year. There are no tax consequences for ACD Co. since it was not involved in the sale transaction in the current year. C. ACD Co. will recognize a $ 50 comma 000 loss in the current year. There are no tax consequences for EFD Inc. since it did not legally