None of the above QUESTION 45 Smith dies on November 26, 2020. His estate includes a home he purchased decades ago which he left to his son john. The adjusted basis of the home to Smith as of his death was $180,000. The value used in the estate tax return for the house was the Fair Market Value on the date of death of $750,000, Three years later John sells the house for $900,000. As a result John has a gain REALIZED of: Zero 5570,000 5900.000 $150,000 None of the above D QUESTION 46 John uses lower of cost or market reporting in his business. A machine in inventory was purchased for $25,000 on February 19, 2017 and still valued at $25.000 at year end 12/31/17. On 12/31/18 the value of the machine dropped to $20.000. As of 12/31/19 the machine was worth $28,000. Its inventory valuation for cost of goods sole purposes on 12/31/19 was: $28.000 Click Save and Submit to save and submit. Click Save All Answers to nave all answers, Save Ar Aswa HE Type here to search O RE V G