Wave Company, an accrual basis taxpayer, has accounts receivable of $100,000. Because Wave needs working capital, it sells the receivables for $85,000 to a financial institution. On the sale of the receivable, Wave has: a. A capital gain of $100,000. b. An ordinary loss of $15,000. C. An ordinary gain of $100,000. d. A capital loss of $15,000. e. No gain or loss. Qualified small business stock must satisfy all of the following restrictions, except: O a. The taxpayer must have held the stock more than five years. b. When the stock was issued, the issuing corporation's assets must not have exceeded $50 million, at adjusted basis, including the proceeds of the stock issuance. C. The stock must have been newly issued after August 10, 1993. d. The issuing corporation must use at least 80% of its assets, determined by their value, in the active conduct of a trade or business. e. The stock must have been newly issued after August 10, 2001. Payments received by a lessor for a lease cancellation are treated as a capital gain. True False