In 2012, Arlene made a gift of stock (basis of $813,000; fair market value of $413,000) to her mother, Elizabeth. As a result of the transfer, Arlene paid a gift tax of $60,000. Elizabeth's income tax basis in the stock is:
a. $413,000 basis for gain and loss if Elizabeth sells the property.
b. $443,000 basis for gain and loss if Elizabeth sells the property.
c. $813,000 basis if Elizabeth sells it for gain and $413,000 basis if Elizabeth sells it at a loss.
d. $873,000 basis for gain and loss if Elizabeth sells the property.
e. None of the above.