Problem: The estate of Bobbi Jones has the following provisions: total value of estate assets $2,000,000, amount specified to convey to a spouse $1,000,000, amount specified to convey to children $200,000, total debts 400,000, administrative expenses $50,000 and funeral expenses of $30,000. What is the value of the taxable estate?
A) $300,000.
B) $520,000.
C) $350,000.
D) $400,000.
E) $750,000.