Jack received 50 shares of stock as an inheritance on July 15, 2022, from his father, who died April 25, 2022. His father's adjusted basis in the stock was $65,000. The stock's fair market value on April 25, 2022, was $75,000. On October 15, 2022, its value was $85,000, and on the date Jack received the stock, it was $70,000. The alternative valuation date was not selected for filing a federal estate tax return. Jack's basis in the inherited stock is