Traction Inc. sold a large parcel of land during the current taxation year for proceeds of disposition of $100,000, and the land has an adjusted cost base of $20,000. The sales cont Traction Inc. will receive 50% of the proceeds of disposition at the time of sale, and the remaining 50% will be received one year from the date of sale. Which of the following is true with respect to the taxable capital gain to be recorded on the corporate income tax return in the current taxation year and subsequent taxation year Current year: $0; subsequent year: $40,000 Current year: $40,000; subsequent year: $0 Current year: $8,000; subsequent year: $8,000 Current year: $20,000; subsequent year: $20,000