(Answered) Question - mr good died on april 15 of the current year his

Accounting

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

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