12) Calculate the probate fee payable based on the market values of a Testator's assets and liabilities on the date of death: (10 marks) *Assets & liabilities are solely owned by the Testator unless specified otherwise. (Ontario Probate fees: 0.5% of 1 $50,000 plus 1.5% of the balance over $50k) *You must show all calculations in the space below* House - $400,000 with Mortgage of $200,000 Rental property - $150,000 with private mortgage of $50,000 Car - $35,000, Boat - $18,000, Car loan - $15,000 Small Business - $10,000, Business loan - $5,000 Credit Card balance - $8,000 Non-registered investments - $80,000 Joint (WROS) Non-registered investments - $100,000 RRSP - $60,000 (beneficiary not named) DCPP - $20,000 (spouse is beneficiary) TFSA - $15,000 (spouse is beneficiary) Term Life Insurance Policy - $75,000 FV (daughter is beneficiary) Total probate fee payable: $