Tia Kline, a resident of Canada, is the sole shareholder of KI Inc. She plans to transfer four assets, which she owns, to KI Inc. in exchange for cash and preferred shares of KI Inc. She wishes to receive the maximum amount in cash that she can receive and still defer the recognition of income for tax purposes on the transfer of the assets. Tia and KI Inc. will jointly make a Section $85$ election for each of the assets. The following chart outlines the details of the assets.

FMV ACB UCC

Inventory $ $260,000$ $ $52,000$ $ $0$

Automobile $22,50030,00016,500$

Patent $50,00060,00030,000$

Customer list $100,00000$

$ $432,500$ $ $142,000$ $ $46,500$

Required:

For each of the four assets individually, state the amount that should be elected as proceeds under Section $85$ of the Income Tax Act, state the amount of cash consideration, and state the value of the preferred shares Ms$.$ Kline should accept as consideration for the assets.