Joycelyn gave a diamond necklace to her granddaughter Emma. Joycelyn had purchased necklace in 1980 for $15,000. The FMV of necklace at the time of the gift was $43,000. After deducting annual exclusion, the amount of the gift was $30,000. Gift taxes of $10,000 were paid. Evaluate Emma's adjusted basis in the necklace?