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37. while counseling jim on estate planning, jim states that he has read that some estates can escape federal estate tax. you explain to jim

37. while counseling jim on estate planning, jim states that he has read that some estates can escape federal estate tax. you explain to jim that the term used for the size of an estate that can be passed tax-free is:

a)the excludable percentage of the estate.

b)stepped-up basis.

c)the applicable exclusion amount.

d)the modified carryover basis.

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