A. Carol's estate includes the following assets:

Assets	Adjusted Basis to Deceased	FMV at Death	FMV on Alternate Valuation Date
Land	$55,000	$180,000	$175,000
Bonds	65,000	63,000	61,000
Clothing	20,000	7,000	6,500

The executor elects the alternative valuation date. What is the amount included in Carol's estate?

B. From the items listed below, what amount of allowable deductions can be subtracted from the gross estate?

Funeral expenses	$4,000
Executor's fees	5,800
Mortgage on tenants in common property (20% of purchase price paid by Carol)	80,000
Marital deduction	50,000

10.3.1