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Compute the undervaluation penalty

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Reference no: EM132704092

The following independent cases invlove the value of a closely held buisness in the decendent's gross estate.

        Reported value corrected          IRS valuation

a.            20,000                          25,000

b.            100,000                          150,000

c.          150,000                           250,000

d.             150,000                           500,000

Problem 1: Compute the undervaluation penalty for each assuming a marginal federal estate tax of 40%

Reference no: EM132704092

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