Which of the following statements associated with inherited property is correct? 1. The beneficiary's adjusted basis can be greater than, equal to, or less than the decedent's adjusted basis. II. The beneficiary's holding period includes the donor's holding period. III. If the total value of the property included in the decedent's estate has declined in value during the relevant six-month period, the alternative valuation amount can be used only for those assets which have declined in value (i.e., cannot be used for an asset that has increased in value) Select one: a. Only I. is correct b. Only III. is correct c. Only II. is correct d. I., II., and I are correct e. Only I. and II. are correct