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Mia died on November 1, 2023 with the following property. What is the estate value of each item? 500 shs of XYZ Co. stock which
Mia died on November 1, 2023 with the following property. What is the estate value of each item?
| 500 shs of XYZ Co. stock which traded on the stock exchange. Values on the date of death were high of $75 low of $65, and close at $48 | |
| Life insurance policy on Serena's life with a face value of $300,000. The cost of a comparable policy is $250,000, | |
| Land with a current FMV of $500,000 that Mia gifted to her daughter in 2021. At the time of the gift the land had a FMV of $450,000. |
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
14th Edition
1260247821, 978-1260247824
