Exercise 19-21 (Algorithmic) (LO. 4) Tom and Elizabeth purchase land for $1,560,000-Tom furnishes $468,000 and Elizabeth $1,092,000 of the purchase price. Title to the property is held as joint tenants with right of survivorship. Elizabeth dies first 10 years later when the land is worth $3,120,000. a. How much of the property is included in Elizabeth's gross estate? b. What is Tom's income tax basis in the property? $