Fred and Ethel (brother and sister) residents of a non-community property state, own unimproved land that they hold in joint tenancy with rights of survivorship. The land cost $100,000 of which Ethel paid $80,000 and Fred paid $20,000. Ethel died during 2016 when the land was worth $300,000, and $240,000 was included in Ethel's gross estate. What is Fred's basis for the property after Ethel's death? h A B C aductions and Losses D $140,000. $240,000. $300,000. $260,000