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When Russell Hypes died unmarried in 2012, he left an estate valued at $6,650,000. His trust directed distribution as follows: $15,000 to the local hospital, $75,000 to his alma mater, and the remainder to his three adult children. Death-related costs and expenses were $5,500 for funeral expenses, $45,000 paid to attorneys, $6,500 paid to accountants, and $35,000 paid to the trustee of his living trust. In addition, there were debts of $75,000.
Use Worksheet 15.2 and Exhibit 15.7 and Exhibit 15.8 to calculate the federal estate tax due on his estate. Round your answer to nearest whole dollar.
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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