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ITA 85(1) sets out rules for establishing acceptable election amounts. Which of the following statements accurately describes the maximum elected amount or ceiling? A. The FMV of the NSC given to the transferee. B. The FMV of the share consideration given to the transferee. C. The FMV of the share and non-share consideration given to the transferee. D. The FMV of the eligible property sold/transferred to the corporation.
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