Calculate the total exclusive properties to be included in the gross estate. Calculate the total common properties to be included in the gross estate What is the required percentage of the gross distributable compulsory heirs ? If Mercurio stated in the will that the painting collection will be given to his Uncle Kokoy, and the farmlands with granary will be given to Ambot, his best friend, will this make the will valid or invalid ? Why? Show your supporting computations estate to be included in the legitime for the Mercurio is a successful businessmant and is married to Kurdapya They have four legitimate children Marcurio has also one illegitimate child. He has the following inventory of assets and liabilities as of December 2020: Exclusive properties . . . . . . . . . . . . . . Common properties . Cash P15,000,000 Stocks and bonds investments Receivables from: 0 Antonia - P1,200,000 Lincliwa - P650,000 . Electronic gadgets - P1,500,000 Cars - P5,000,000 Painting collection P5,000,000 Farmlands with granary - P25,000,000 - 15,000,000 Delivery trucks - P2,000,000 Idle lands P4,000,000 5 units in a subdivision - F2,000093 Mortgage attached to the idle lands - P1,500,000 Bank loans P14,000,000 Additional information Joint bank accounts - P15,750,000 Joint investme -P7,500,000 Cars P2,000,000 Family home P8,500,000 Jewelry collection - P1,500,000 Coconut farm with coconut oil facility P10,000,000 as of December Mercurio is also a partner in a prestigious auditing firm His interest in the partnership 2020 is valued at P12,000,000 Antonia filed for bankruptcy on December 29, 2020 All assets are valued close to their fair market values except for the painting that has a market value of P15,000,000 + Mercurio died on December 30, 2020 Mercurio availed a life insurance where he irevocably designated Jingjing, his executor as the beneficiary The proceeds from the life insurance is estimated to be P1,500,000 1