The owner of a closely-held business dies in year 2006. The value of his estate is $4,000,000. Assuming administration expenses total 5% of the value of the gross estate, under what circumstance can his estate qualify for the Section 6166 deferral?
A. If the value of the business is no more than $1,400,000.
B. If the value of the business exceeds $1,400,000.
C. If the value of the business in no more than $1,330,000.
D. If the value of the business exceeds $1,330,000.