Vixen Limited purchased all of the shares of Comet Limited on June 8,2015 . The cost of the shares to Vixen Limited was $90,000. The current fair market value of the shares of Comet is $175,000. Comet's only asset is land, which was purchased for a cash amount of $10,000 on October 15,2006 . The land had a value of $100,000 on June 8,2015 and is currently valued at $175,000. Required: What are the income tax implications to Vixen Limited and Comet Limited of an amalgamation, effective immediately, using section 87 of the Income Tax Act