Dan bought a hotel for $2,600,000 in January 2017. In May 2021, he died and left the hotel to Ed, While Dan owned the hote, he deducted $289,000 of cost recovery. The fair market value in May 2021 was $2,800,000. The fair market value six months later was $2,[50,000. Form 706 (Federal Estate Tax) is not required to be filed. a. What is the basis of the property to Ed? Since the alternate valuation date lelected, Ed's basis is 5 can be cannot be b. What is the basis of the property to eumil ue tan market value s 5 months later was {2,500,000( not 52,850,000) and the objective of the executor was to minimize the estate tax liability? Since the alternate valuation date