Hallie bought stock in Nolan, Inc., for $35,000 in 2004. She died on Jan. 5, 2020 when the stock was worth $100,000. The stock was worth $90,000 on July 5, 2020. It was distributed to Hallie's sister Betty in accordance with her will on August 3, 2020 at which time it was worth $88,000. The executor of Hallie's estate made the "alternate valutation election." What basis will Betty have in the stock?

		$35,000.
		$100,000.
		$90,000.
		$88,000.