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Ryan placed $280,000 in trust with income to Stephen for his life and the remainder to Kayla (or her estate). At the time of the gift, given the prevailing interest rate, Stephen's life estate was valued at $165,000 and the remainder at $115,000. What is the amount, if any, of Ryan's taxable gifts?
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A video cassette recorder, a device once commonly used to play and record television programs and movies on magnetic tape.
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Goods or services that can be used in exactly the same way, thus one can completely replace another in consumption.
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