In 2002, John acquires property with a FMV of $500,000. He gifts the property to Jane in 2003 when it has a FMV of $1 million. Jane dies in 2003 and leaves the property to John's wife. What value will be included in Jane's gross estate; what is the basis in the property when John's wife inherits it?
A. $1 million/$1 million
B. $1 million/$500,000
C. $500,000/$1 million
D. $500,000/$500,000