12. Nancy gives her niece a crane to use in her business with a fair market value of $61,000 and a basis in Nancy's hands of $80,000. No gift tax was paid. What is the niece's basis for depreciation (cost recovery)? a. $0 b. $19,000 c.$61,000 d. $80,000 e. None of the above 13. Which of the following is correct? a. The gain basis for property received by gift is the lesser of the donors adjusted basis or the fair market value on the date of the gift. b. The loss basis for property received by gift is the same as the donor's basis. C. The gain basis for inherited property is the same as the decedent's basis d. The loss basis for inherited property is the lesser of the decedent's basis or the fair market value on the date of the decedent's death. e. None of the above