Leslie died on October 31, 2013. Prior to 2012, Leslie had never made any gifts, but in 2012 she made some transfers. Specifically, on January 10, 2012, Leslie gave her vacation beach house to her five children outright, as tenants in common. The fair market value of the vacation beach house on the date of the transfer was $50,000. The fair market value of the vacation beach house at the date of Leslie's death was $100,000. When Leslie died on October 31, 2013, she owned a vacant lot jointly with her sister, Melissa, as joint tenants with right of survivorship. Leslie and her sister each contributed $10,000 toward the $20,000 purchase price. The basis of the property did not change subsequent to the purchase, and at Leslie's death, the fair market value of the property was $60,000. There is $90,000 of life insurance on the life of Leslie, and her estate is named as the beneficiary. (Assume all assets have the same value on the alternate valuation date as on the date of death). What is the amount of Leslie's gross estate for federal estate tax purposes?
a. $120,000.
b. $170,000.
c. $220,000.
d. $250,000.