1. Lucio, Chinese residing in Zhen Zhen City, China, died on October 21, 2010. The following are the data concerning his properties:

Properties:

- House in China 1,750,000.00

- Condominium unit in Sampaloc, Manila 1,500,000.00

- Shares of stock in Co Pia Corp., a Chinese corporation 1,300,000.00

- Car registered in China 450,000.00

- Personal property in the Philippines registered in the name of Lucio 500,000.00

- House in Zhen Zhen City inherited from his father, Val Hallada on December 1, 2006 2,500,000.00

Deductions:

- Funeral expenses incurred in China 200,000.00 - Judicial expenses 60,000.00

- Unpaid mortgage on house in China 250,000.00

- Loss incurred on stocks trading with the Philippine Stock Exchange, incurred 10 days prior to his death 65,000.00

- Claims against Soo San, insolvent 40,000.00

- Medical expenses incurred before his death 20,000.00

Required: Compute the estate tax due. For purposes of discussion, apply the TRAIN Law regardless of the year of transaction