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Question 9 (1 point) Fred Smith died in 2020 owning existing property and having claims to a number of future payments. Which of the following, if inherited by his beneficiaries, would not be given a basis of the fair market value at the date of death? land purchased by Fred for $20,000 but worth $60,000 at the time of his death stock purchased by Fred for $10,000 but worth $25,000 at the time of his death A payment from a client due to Fred for professional services performed. Fred, a cash basis taxpayer, finished the services and billed them two weeks before his death but the estate did not receive the check until a month and a half after his death. All of the above would be stepped up to fair market value at date of death. Question 10 (1 point) Hank converted his personal truck to business use 2 years ago. He had bought the truck for $30,000 but it was worth $18,000 at the time of conversion. After taking $5,000 of depreciation on the truck, he sold it for $10,000. What is Hank's gain or