Morgan, a widow, recently passed away. The value of her assets at the time of death was $9,014,000. The cost of her funeral was $13,781, while estate administrative costs totaled $42,890. As stipulated in her will, she left $927,712 to charities. The estate tax-free transfer threshold is $5,490,000 and the tax rate is 40%. 22. What is the gross gift-adjusted taxable estate for Morgan's estate? A) $7,101,905 B) $8,029,617 C) $8,957,329 D) $9,014,000 23. What is the net gift-adjusted taxable estate for Morgan's estate? A) $5,490,000 B) $3,524,000 C) $2,539,617 D) $1,946,468 24. What is the estate tax liability for Morgan's estate? Answers are rounded to the nearest dollar A) $3,605,600 B) $2,196,000 C) $1,409,600 D) $1,015,847 25. All of the following features are common to a basic will except A) establishment of a trust. B) payment of debt and taxes clause. C) disposition of property clause. D) introductory statement