Dale Davidson's estate includes the following assets:
Assets Adjusted Basis to Deceased FMV at Death FMV on Alternate Valuation
Date Land $50,000 $175,000 $170,000
Bonds 60,000 58,000 56,000
Clothing 15,000 2,000 1,500

The executor elects the alternative valuation date. What is the amount included in Mr. Davidson's estate?
a. $125,000
b. $235,000
c. $227,500
d. None of these