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Marcus has a flat tire on the way to work.He curses and says,"This always happens to me!" Marcus has known for several months that he needs to buy new tires for his car.This is an example of which of the following?
Probate
The legal process of verifying a deceased person's will and administering their estate.
Personal Exemption
A specific amount that taxpayers could previously subtract from their gross income for themselves and each of their dependents. Note: As of my last update, changes in tax law may have affected this term.
Estate Income Tax
A tax imposed on the income generated by an estate during the period of administration.
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