Neelam died, leaving her estate to her cousin, Mary. At the time of her death, Neelam owned a… 1 answer below »

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Neelam died, leaving her estate to her cousin, Mary. At the time of her death, Neelam owned a diamond ring that was originally purchased by her grandmother for $5,000. On her grandmother’s death, the ring had passed to Neelam’s father. At the time of her grandmother’s death, the ring was worth $10,000. Her father then spent $700 to have the ring remounted. It was valued at $13,000 at the time of her father’s death At the time of Neelam’s death, the ring was worth $18,000. Mary’s basis in the ring is _____. $18,000 $13,000 $10, 700 $5,000

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