Before her death, Alice loaned Jerry $$400,000$ in return for a note. The terms of the note directed

Jerry to make monthly payments including interest at the applicable federal rate. If Alice dies

before the note is repaid, which of the following affects the valuation for Alice's gross estate?

Jerry's inability to make payments timely.

The market rate of interest.

The remaining term of the note.

Alice forgives the note as a specific bequest in her will.

$1,2$ and $3$

$1$ only

$1$ and $2$

$1,2,3$&$4$