Paul Makes the Following Property Transfers in the Current Year

question 51

Multiple Choice

Paul makes the following property transfers in the current year: • $22,000 cash to his wife
• $34,000 cash to a qualified charity
• $220,000 house to his son
• $3,000 computer to an unrelated friend
The total of Paul's taxable gifts,assuming he does not elect gift splitting with his spouse,subject to the unified transfer tax is

• A)$205,000.
• B)$212,000.
• C)$245,000.
• D)$279,000.

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Definitions:

Refractory Period

Period following effective stimulation during which excitable tissue, such as heart muscle, fails to respond to a stimulus of threshold intensity.

Cardiac Muscle

Muscle tissue found only in the heart, characterized by its ability to contract involuntarily and rhythmically.

Tetanic Contractions

Sustained muscle contractions that occur when the muscles do not relax between stimuli, leading to a smooth and steady contraction.

Depolarization

The process in which a cell's membrane potential becomes less negative, leading towards an action potential in nerve and muscle cells.