Mr McCann Died This Year

question 53

Multiple Choice

Mr McCann died this year. During his lifetime, he made taxable gifts significantly in excess of his lifetime exclusion. Mr McCann's taxable estate was $21.9 million. Compute the estate tax on this estate.

• A) $8.760 million
• B) $6.660 million
• C) $7.665 million
• D) The facts are insufficient to compute the estate tax.

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Definitions:

Stop

To cease movement or come to a halt.

Percentage

A mathematical term denoting a fraction or portion of a whole expressed as a number out of 100.

Meth Labs

Illicit setups or places for the production of methamphetamine, a powerful, highly addictive stimulant drug.

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