Jack inherited 100 acres of land at the death of his father in 2017. A federal estate tax return was filed and this land was valued therein at $1,500,000 its fair market value at the date of his father's death. The father had originally acquired the land in 1938 for $2000. In 2000, the father built a cabin on the property at a cost of $50000. What is Jack's basis in the property he inherited?

a) $2000. b) $0 since Jack did not pay anything for property. C) $1,500,000 d) $52000 e). Some other amount_______