Donna Stober's estate has the following assets (all figures approximate fair value): Investments in stocks and bonds House Cash $1,555,000 745,000 76,300 64,500 Automobiles (three rare vehicles) 55,600 Other assets 124,000 Investment land The house, cash, and other assets are left to the decedent's spouse. The investment land is contributed to a charitable organization. The automobiles are to be given to the decedent's brother. The investments in stocks and bonds are to be put into a trust fund. The income generated by this trust will go to the decedent's spouse annually until all of the couple's children have reached the age of 25. At that time, the trust will be divided evenly among the children. The following amounts are paid prior to distribution and settlement of the estate: funeral expenses of $22.500 and estate. administration expenses of $12,000. What value is to be reported as the taxable estate for federal estate tax purposes? Taxable estate