Leela and Nansingh were married for 20 years before they separated this year. As part of the separation agreement, Nansingh transferred 2 stocks with a fair market value of $100,000 and acb of $60,000. However, before the divorce was finalized, Leela sold all the stocks for $110,000. How much capital gains are realized and who will pay the taxes.
a. $40,000 gains, Leela
b. $50,000 gains, Leela
c. $50,000 gains, Nansingh
d. $40,000 gains, Nansingh