Prior to his death in 2009, Rex made the following gifts. Fair Market Value Year Asset Date of Gift Date of Death 2005 Marketable securities $400,000 $900,000 2007 Term life insurance policy -0- 100,000 2008 Unimproved land 900,000 950,000 As a result of the 2008 transfer, Rex paid a gift tax of $70,000. As to these transactions, Rex's gross estate includes