Beatrice and Renaldo Kreeb live in a common law state and their home is titled in Renaldo's name. The land is worth $200,000. The basis in the property is $450,000. Renaldo is considering placing the home in a QPRT and naming the couple's four children as the remainder beneficiaries. The value of the home is $1,100,000 and Renaldo's retained interest is $448,000. What would Renaldo's total taxable gift be for this transfer? A.$448,000