Donald dies in 2014, and under his will, a trust is created in the amount of $6,470,000 with the following provisions: life estate to Cindy (Donalds wife) and remainder to their children. His will also passes land (cost basis of $286,400 and fair market value of $859,200) to the Salvation Army for the site of a new homeless housing project. a. If a QTIP election is made, how much will these transactions reduce Donalds gross estate to arrive at the taxable estate? b. If a QTIP election is not made?