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67. Teri's uncle gave her a house on 12/25/02. Her uncle purchased the house on 3/20/74 for $58,759. The fair market value of the house

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67. Teri's uncle gave her a house on 12/25/02. Her uncle purchased the house on 3/20/74 for $58,759. The fair market value of the house at the time of the gift was $79,000. Assume he owed no gift tax. The home has never been used for business. Before moving into the house, Teri paid for the following: New roof $ 9,873 Installed storm windows $ 1,962 Replaced a broken window 127 Replaced gravel in the driveway 499 What is Teri's adjusted basis in her home? a) $91,461 b) $90,835 c) $70,721 $70,594

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