Dover Ltd. has one class of shares. The company issued 5,300…

Dover Ltd. has one class of shares. The company issued 5,300 shares on January 1, 2024, at $4.30 per share. On December 15, 2024, the company issued an additional 10,100 shares at $6.30 per share. On March 31, 2025, the company issued another 10,100 shares at $8.50 per share. Betty Ying purchased 680 shares from the first share offering and another 960 from the latest issue. What is the total PUC of her shares?

In the following three independent cases a joint election is…

In the following three independent cases a joint election is filed under ITA 85(1). Case OneDepreciable property with a capital cost of $135,000, a UCC balance of $74,200, and FMV of $210,500 is sold to a corporation for consideration that consists of a promissory note of $155,000, preferred shares redeemable for $28,000, and common shares with a FMV of $27,500. The depreciable property is the only property in the class. Case TwoLand with a tax cost of $717,000 and FMV of $923,000 is sold to a corporation for consideration that consists of a promissory note for $103,000 and preferred shares that are redeemable for $720,000 and common shares that are redeemable for $100,000. The inventory is not real property (land and buildings). A. The range of acceptable elected amounts. B. Assuming that the minimum elected amount determined in Part A is chosen, determine the additional income that will be included in the income of the seller. C. Again assuming that the minimum elected amount under Part A is chosen, determine the ACB of all consideration and the PUC of the share consideration.  Answer Skeleton:  Case 1 & Case 2 A) Range of Elected amounts = ? Floor  = ? Ceiling = ? B)  Assume minimum elected Capital gain? IF YES Below (IF NO LEAVE BLANK) POD =? ACB =? CG / Business income =? Inclusion =? TCG =? C) Minimum elected amount Determine ACB of all Consideration PUC of Share consideration ACB Consideration  Elected Amount =? LESS  FMV  of NSC =? ACB of Preferred Shares  =? PUC Reduction  Increase in legal capital =? LESS  Elected Amount  =? Over the FMV of NSC =? PUC Reduction  = ? PUC of Preferred Shares =? PUC of Common Shares =?