15. Peter and Ann are concerned about estate planning details. They have heard about income in respect of a decedent (1RD). They realize that their retirement plans could be subject to 1RD taxation. Which of the following statements is true in relation to 1RD property? I. IRD property will be included in the Mayelds' estates at fair market value. II. 1RD property does not receive a stepuup in basis. III. IRD property is subject to income taxation when the heir or estate collects income from the property. IV. IRD property will be included in the Mayfields' estates at a step-up in basis value. a. I and III only b. Hand IV only c. LII, and III only (1. II, III, and IV only