Jim inherits stock( a capital asset) from his brother, who died in March of 2019, when the property had a $15.3 million FMV. This property is the only property included in his brothers gross estate and there is a taxable estate. The FMV of the property as of the alternate valuation date was 14.9 million.

a). why might the executor of the brothers estate elect to use the alternate valuation date to value the property?

b). Why might Jim prefer the executor to use FMV at time of the death to value the property?

c). If the marginal estate tax rate is 40% and Jims marginal income tax rate is 24% and his rate on ANGG is 15%, which value should the executor use?