Check my estate to a church, The First Church of Methodology. The remainder of Tom's assets were to be placed in trust for three children. Tom's estate consisted of the following: Assets: Personal assets Cash and stock Intangible assets (film rights) Real estate Liabilities: Mortgage Other liabilities $ 1,130,000 25,300,000 78,000,000 16,300,000 $ 120,730,000 $ 4,500,000 5,400,000 $ 9,900,000 a. Tom made a taxable gift of $6.40 million in 2011. Compute the estate tax for Tom's estate. (Refer to E 25-1 and Exhibit 25-2.) Note: Enter your answers in dollars, not millions of dollars. Gross estate Marital Deduction Charitable Deduction Debts Taxable Estate Adjusted taxable gifts Cumulative taxable transfers Tax on cumulative transfers 120,730,000 25,300,000 16,300,000 9,900,000 69,230,000 6,400,000 $ 75,630,000 6,379,200 Less taxes paid on prior gifts Tentative estate tax Applicable credit (tax on $12.06 million) Estate Tax Due