Evelyn Everest gave property to her mother Sharon when the adjusted basis of the property was $12,000 and the fair market value was $80,000. Sharon died eight months later when the property was valued at $85,000 and she left the property to Evelyn. What is Evelyn’s basis? If Sharon had died more than a year after receiving the gift when the fair market value was $85,000, what would the basis have been to Evelyn?