Natalie's estate includes the following assets.

________               ___________________________Fair Market Value______________

            ____________________________Date of Death __________Six Months Later

Apartment building ……………….. $4,400,000 …………………. $4,380,000

Stock in Blue Corporation …………. 1,200,000 …………………… 1,300,000

Stock in Green Corporation …………. 900,000 ……………………… 700,000

Accrued rents on the apartment building are as follows: $60,000 (date of death) and $70,000 (six months later). To pay expenses, the executor of Natalie's estate sells the Green stock for $650,000 five months after her death.

a. If the § 2032 election is made, how much is included in Natalie's gross estate?

b. As to part (a), assume that the Green stock is sold for $650,000 seven months (rather than five months) after Natalie's death. How does this change your answer, if at all?

c. How much is included in the gross estate if the § 2032 election is not made?