Reference no: EM132864292
Problem - Lito, a resident citizen, died leaving a total gross estate as shown below, including the conjugal family home of 2,500,000.
Total conjugal real properties 4,500,000
Total exclusive properties 2,000,000
Business net worth based on interim Financial Statements at the time of death 15,000,000
Proceeds of life insurance 1,000,000
Gross Estate 22,500,000
Required - How much is the ESTATE TAX DUE?