Chloe's Gross Estate Consists of the Following Property Valued at the Date

Chloe's gross estate consists of the following property valued at the date of death: Description $\quad\quad\quad\quad\quad$ Value
Real estate $\quad\quad\quad\quad\quad \$ 5,500,000$
Cash, stock, and bonds $\quad1,700,000$
Personal property $\quad\quad\quad 300,000$ Chloe's real estate is encumbered by a mortgage of $450,000, and Chloe's executor paid her funeral costs of $6,000 and charged fees for $24,000. Which of the following is a true statement?

A) Chloe's adjusted gross estate is at least $7,020,000.
B) Chloe's taxable estate is at least $7,020,000.
C) Chloe's taxable estate is $7,050,000.
D) Chloe's estate will calculate the tentative estate tax on $7.5 million.
E) None of these is true.