22. Compute the applicable overvaluation penalty in the following situations: (a)John, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $15,000 for a sculpture that the IRS later valued at $10,000. (b)Samantha, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $170,000 for a sculpture that the IRS later valued at $100,000. (c)Susan, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $400,000 for a sculpture that the IRS later valued at $150,000. (d)Beth, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $600,000 for a sculpture that the IRS later valued at $100,000.

25. Compute the undervaluation penalty for each of the following independent cases involving the executors reporting of the value of a closely held business in the decedents gross estate. In each case, assume a marginal estate tax rate of 50 percent. Reported Value Corrected IRS Valuation a. $20,000 $25,000 b. 100,000 150,000 c. 150,000 250,000 d. 150,000 500,000

27. Compute Danas total penalties. She underpaid her tax by $50,000 as a result of negligence and by $150,000 as a result of civil fraud.