Kyrie dies and leaves his son, LeBron, the family farm. The value of the farm as used is $3,000,000. The fair market value of the farm at its highest and best use (supermarket and shopping mall) is $6,000,000. Which of the following statement(s) is/are true regarding a proper 2032A election?

1. The value of the land in the gross estate will be less than $3,000,000.

2. LeBron will have to use the farm for 10 years to avoid recapture of the 2032A benefit.

a. 1 only.

b. 2 only.

c. Both 1 and 2.

d. Neither 1 nor 2.