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Katherine purchased land for $100,000 in 1985. The land was valued at $700,000 on July 1, 2013, when Katherine died. Katherine's son John inherited the land in 2013. What basis would John have in the land as a result of the 2013 inheritance?

a. $700,000

b. $100,000

c. $0

d. Katherine's adjusted basis on July 1, 2013 (if different than $100,000)

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