Sasha Ivanov gifted Canadian public securities to a public charity in Year 1. The securities had a market value of $22,000 and an ACB of $8,000. Sasha is in a 40% tax bracket. Which of the following will apply to Sasha?
a. Sasha will have a capital gain of $0 and receive a donation receipt for $22.000.
b. Sasha will have a capital gain of $0 and receive a donation receipt for $14,000.
