Henrietta, a single person, died this year with a Gross Estate of $6.5 million. Her funeral cost $10,000, debts ($10,000) and expenses of her last illness ($4,500) totaled $14,500, the attorney representing the executor of her estate estimates legal fees at $25,000, and the Executor is entitled to receive an executor's commission of $45,000 per state statute. Which of the following statements is correct? I. Funeral expenses and the expenses of her last illness may be claimed as Medical Expenses on Schedule A of Henrietta's Final 1040 income tax return. II. Henrietta's debts, excluding her final medical expenses, may be claimed as an expense of administration on the estate's first federal fiduciary income tax return (Form 1041). III. The Executor of Henrietta's estate may elect a fiscal year for fiduciary income tax purposes. IV. Legal fees and executor's commissions may be deductible in full on either the Federal Estate Tax Return (Form 706), the estate's Federal Fiduciary Income Tax Return (Form 1041), or partly on both returns not to exceed the total amount of the expenses. a. I, II & III b. II, & IV c. III, & IV d. I, II, III, & IV