Bonnie died on June 1, 2023 survived by her husband, Abner and two sons, Carl and Doug. Bonnie's only lifetime taxable gift was made in October 2021 in the taxable amount of $5.25 million in stock. She did not elect gift splitting. By the time of her death, the value of the gifted property (stock) had declined to $5.1 million. Also in October 2021, she transferred the ownership of a life insurance policy to her 2 sons Carl and Doug. The value of the life insurance policy was 1.2 million at the time. Bonnie still had some incidents of control of this policy at the time of death. These gifts are within the 3 year mark (hint). Bonnie's executor discovered the items show below. Amounts shown are the FMV's of the items as of June 1, 2023. (Use the 2023 exemption equivalent amount) Bonnie's debts as of her date of death were $60,000. Her funeral and administration expenses were $9,000 and $71,000 respectively. Her estate paid state death taxes of $65,000. The executor elected to deduct the administrative expenses on the estate tax return. Bonnie's will include the following: I leave my residence to my husband, Abner. $250,000 of property is to be transferred to a trust with First Bank named as trustee. All of the income is to be paid to my husband, Abner, semiannually for the rest of his life. Upon his death, the property is to be divided equally between my two sons or their estates. Hence this is a QTIP provision so Bonnie will get the Marital Deduction for this amount. I leave $47,000 to the American Cancer Society. Assume the executor elected to claim the maximum marital deduction possible. Compute the following with respect to Bonnie's estate: a. Gross Estate| b. Taxable Estate c. Adjusted Taxable Gifts d. Estate tax base and basic exclusion amount portable to Abner e. Tentative Tax on estate tax base f. Federal Estate tax payable g. You will need to figure the tax on the gift in 2020 h. Hint: The gift in 2020 is after the annual exclusion for 2020 so when it says taxable, this is the amount that should be taxed etc