Rosie Inherits 1,000 Shares of Northern Skies Airline Corporation Stock

Multiple Choice

Rosie inherits 1,000 shares of Northern Skies Airline Corporation stock from the estate of her Uncle Tony.Tony died on July 2,2013.The stock's value on July 2,2013,is $4,000.Tony's basis in the stock was $3,000.The stock has a fair market vale of $7,000 on October 1,2013,when it is transferred to her.Rosie sells the stock October 11,2014.What is Rosie's basis in the stock?

A) $ - 0 -
B) $1,000
C) $3,000
D) $4,000
E) $7,000