Before her death, Gemma loaned Clay $400,000 in return for a note. The terms of the note directed Clay to make monthly payments including interest at the applicable federal rate. If Gemma dies before the note is repaid, which of the following affects the valuation for Gemma's gross estate? 1. Clay's inability to make payments timely. 2. The market rate of interest. 3. The remaining term of the note. 4. Gemma forgives the note as a specific bequest in her will