wns all $1$ comma $000$ common shares of White$$ Ltd$,$ with an adjusted cost base$($ACB$)$ and paid up capital$($PUC$)$ of $ $1$ comma $000.$ The corporation has been successful and its current FMV is $ $500$ comma $000.$ Pursuant to ITA$86(1),$ Mr$.$ White exchanges all $1$ comma $000$ common shares for$$ non$-$share consideration of $ $200$ comma $000$ and preferred shares with a redemption value of $ $200$ comma $000.$ Immediately$$ thereafter, Mr$.$ White's only daughter purchases $100$ common shares of White Ltd$.$ for a nominal value of$$ $$100.$ ITA$86(2)$ would deem a gift to Mr$.$ White's daughter of