Problem 18-39 (LO. 6)

At the time of her death on September 4, Alicia held the following assets:

	Fair Market Value
Bonds of Emerald Tool Corporation	$900,000
Stock in Drab Corporation	1,100,000
Insurance policy (face amount of $400,000) on the life of her father, Mitch	80,000*
Roth IRAs	$300,000
*Cash surrender value.

Alicia also held a lifetime income interest in a trust (fair market value of trust assets $2,000,000) created by her late husband Bert. (The executor of Bert's estate did not make a QTIP election.) In October, Alicia's estate received an interest payment of $11,500 ($6,000 accrued before September 4) paid by Emerald and a cash dividend of $9,000 from Drab. The Drab dividend was declared on August 19 and was payable to date of record shareholders on September 5. Although Mitch initially survives Alicia, she is the designated beneficiary of the insurance policy. The IRAs are distributed to Alicia's children.

Mitch is killed by a rock slide while mountain climbing in November, and the insurer pays Alicia's estate $400,000 before the end of the year.

On November 7, Alicia's estate receives from the IRS an $8,000 income tax refund, a receivable amount at her death relating to the taxes she paid for the preceding calendar year.

(a) The amount included in Alicia's gross estate for these items is ________.