Prentice Hall Federal Taxation 2016 Corporation, partnership, estates and trusts problem 32: Valuation. Beth died on May 8, 2015. Her executor elected date-of-death valuation. Beth's gross estate included among other properties, the items listed below. What is the estate tax value of each item: a. 4,000 shares of Highline Corporation stock, traded on a stock exchange on May 8, 2015 at a high of 3-, a low of 25, and a close of 26. b. Life insurance policy on the life of Beth having a face value of %600,000. The cost of a comparable policy immediately before Beth's death was $187.430. c. Life insurance police on the life of Beth's son having a face value of 100,000. The interpolated terminal reserve immediately before Beth's death was $14,000. Unexpected premiums were $920. d. Beach cottage appraised at a FMV of $175,000 and values for property tax purposes at $152,000.