e. Loan against the Macon County real estate consisting of $300,000 plus accrued interest of $7,200. Funeral and other estate administrative expenses totaled $45,000. Property taxes of $4,000 on the...

e. Loan against the Macon County real estate consisting of $300,000 plus accrued interest of $7,200. Funeral and other estate administrative expenses totaled $45,000. Property taxes of $4,000 on the real estate and income taxes of $27,000 were paid by the personal representative. In addition to the above insurance policy, Medcap Manufacturing owned an insurance policy on Nancy’s life that had a death benefit of $150,000.