Sengupta died on February 1, 20X14, and bequeathed two different assets to a beneficiary, Roberts. Asset One was distributed to Roberts on April 24, 20X14; Asset Two was distributed to Roberts on October 25, 20X14. The executor of Sengupta’s estate makes a qualified alternate valuation date election. The basis of each bequeathed asset will thus be the fair market value on which date?

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Asset One a. August 1, 20X14 b. April 24, 20X14 April 24, 20X14 C. d. August 1, 20X14 Asset Two August 1, 20X14 August 1, 20X14 October 25, 20X14 October 25, 20X14