In March of 2013 . Mars Corp bought 45,000 shares of Elite Corp's listed stock for $450,000 and classified the shares as available-for-sale securities. The market value of these shares had declined to $300,000 by December 31 . 2013 . Mars changed the classification of these shares to trading securities in June of 2014 when the market value of this investment in Elite's stock had risen to $345,000
. How much should Mars include as a loss on transfer of securities in its determination of net income for 2014?
a. $0
b. $45,000
c. $105,000
d. $150,000
C
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