Decedents family owned a partnership that invested in real estate that was worth $4 million at Decedents death. Decedent owns a one-quarter interest in the family partnership.

A. What is the value of the Decedents partnership interest for estate tax purposes?

B. If Decedents interest qualifies for a 20 percent minority discount and a 20 percent marketability discount, what is the value of Decedents partnership interest for estate tax purposes?

C. Is there any difference in result in question (b), above, if Decedent had given away another 40 percent interest in the partnership two years prior to Decedents death?

D. What is the result in question (b), above, if the real estate was in a corporation rather than a partnership?