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Betty dies on February 20, 2013. Her estate consisted of the following assets, all valued as of her date of death:
Stock with a basis of $40,000 and a fair market value of $200,000
Home valued at $1,500,000 and a basis of $490,000
Cash of $70,000
Life insurance on Betty's life owned by her daughter with a $500,000 face value
What is Betty's gross estate?
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