Emily Strong Estate Problem Emily Strong died in an accident on June 30, Year 1. Her Will provided that all liabilities and expenses were to be paid and that the property was to be distributed as follows: 1) Personal residence to James Strong, widower of Emily Strong. 2) Government of Canada 12% bonds and IBM common stockto be retained. All income from the Government of Canada bonds and IBM common stock is to go to James Strong during his lifetime. Upon his death, the residual of the trust will be divided and distributed equally to her two children, Amy and Jeremy. 3) Lunar Corporation 9% bonds, silverware, and jewelry bequeathed to Amy Strong , daughter of Emily Strong. 4) Casha bequest of $25,000 to Jeremy Strong, son of Emily. 5) Residue of estate to be divided equally between Emily's two children, Amy and Jeremy. The Will further provided that during the administration period James Strong was to be paid $1,000 a month from estate income. Estate and inheritance taxes were to be borne by the residue of the estate. Jeremy Strong was named as executor and trustee. The following inventory of the decedent's property was prepared: Property Fair Value Personal