The basis of property inherited from a decedent is generally

a) the purchase price of the property

b) the fair market value (FMV) of the property on the date of death or the alternative valuation date

c) the higher of the decedent's adjusted basis or the fair market value (FMV) on the date of death or the alternative valuation date.

d) the adjusted basis of the decedent on the date of death or the alternative valuation date