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7. Roland had a taxable estate of $16.7 million when he died this year. Calculate the amount of estate tax due (if any) under the
7. Roland had a taxable estate of $16.7 million when he died this year. Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.)
a. Rolands prior taxable gifts consist of a taxable gift of $1 million in 2005.
b. Rolands prior taxable gifts consist of a taxable gift of $1.5 million in 2005.
c. Roland made a $1 million taxable gift in the year prior to his death.
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