Question - Mr. good died on April 15, of the current year. His assets and their fair market value at the time of his death were
Cash $10,000
Home $140,000
Life insurance payable to Mr. goods estate: $200,000
Series EE bonds: 90,000
Municipal bonds: $180,000
Mr good had borrowed 10,000 against the cash value of his life ins policy. Mr. good estate is liable for the loan. What is the total amount of Mr. goods estate for federal estate tax purposes?
1. $240,000
2. $420,000
3. $610,000
4. $620,000