Assume the same facts as in Problem 38, except that the executor sold the house on May 2, 2019, for $138,000. What value is used by the executor in the estate tax return?

Problem 38

Kermit Ames died on January 15, 2019. The fair market value of his house was $150,000 on his date of death. On July 15, 2019, the house was worth $130,000. Assume the alternate valuation date is selected by the executor. What value is used by the executor in the estate tax return?