Zack died on November 15th and his executor is trying to determine if she wants to use the alternate valuation date method for calculating Zack's gross estate.

The assets in his estate were valued at the date of death as follows:

Asset Date of Death Value

Home $500,000

Investments $1,000,000

IRAs $600,000

Patent $300,000

After Zack died, hisexecutor sold the home (on December 15th) for $555,000.

Six months after his death, the remaining assets in Zach's estate had the following fair market values:

• Investments - $800,000
• IRAs - $650,000
• Patent - $200,000

If Zack's executor properly elects the alternate valuation date method, what is the value of Zack's gross estate?