At the time of his death this year on September 4, Kenneth owned the following assets, among others:

Fair Market Value City of Boston bonds $2,500,000

Stock in Brown Corporation 900,000

Promissory note issued by Brad (Kenneth's son) $600,000

In October, the executor of Kenneth's estate received the following: $120,000 interest on the City of Boston bonds ($10,000 accrued since September 4), and a $7,000 cash dividend on the Brown stock (date of record was September 5). The declaration date on the dividend was August 12.

The $600,000 loan was made to Brad in late 2010, and he used the money to create a very successful business. The note was forgiven by Kenneth in his will. What are the estate tax consequences of these transactions?

Please show all calculations and explain your answers. Thanks!