Craig inherited property from his uncle's estate. The property had a fair market value of 60,000 on the date of his uncle's death. His uncle's basis in the property was 20,000. The fair market value six months after date of death was 50,000. The executor elected to use the alternate date for valuing the estate. What is Craig's basis in the property?
Group of answer choices
50,000
60,000
40,000
20,000
