In 2007,Mario transferred several assets by gift to different persons.Mario dies in 2009.Information regarding the properties given is summarized below. 
The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000.As to these transactions,Mario's gross estate must include:
Definitions:
Excise Tax
A tax on the production, sale, or consumption of a particular good or service within a country.
Efficiency
The optimal use of resources to achieve the best possible outcome or output with the least waste of time and effort.
Distort Incentives
A situation where economic or policy mechanisms result in unintended or undesirable behaviors, often leading to inefficiencies.
Income Taxes
Taxes imposed by governments on individuals or entities based on their income or profits.
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