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Mrs. Turner died this year at age 83. On the date of death, the FMV of Mrs. Turner's property was $46.3 million, and she owed

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Mrs. Turner died this year at age 83. On the date of death, the FMV of Mrs. Turner's property was $46.3 million, and she owed $2.491 million to various creditors. The executor of her estate paid $17,800 funeral expenses and $294,200 legal and accounting fees to settle the estate. Mrs. Turner bequeathed $1 million to the local SPCA and $2.5 million to the March of Dimes (both of which are qualified charities for federal tax purposes). She bequeathed $25 million to her surviving husband Jeffrey and the residual of her estate to her brother Marcus. Assume the taxable year is 2020. Required: a. Compute Mrs. Turner's taxable estate. b. Compute the estate tax payable by Mrs. Turner's executor if Mrs. Turner made $4.8 million taxable gifts during her lifetime but paid no gift tax because of her lifetime transfer tax exclusion c. Assume the facts in part b. Compute the estate tax payable by Mrs. Turner's executor assuming that Jeffrey predeceased his wife and had an unused $1.91 million lifetime transfer tax exclusion. In this case, Marcus inherited the residual of Mrs. Turner's estate net of charitable bequests. Complete this question by entering your answers in the tabs below. Required Required B Required Compute Mr. Turner's taxable estate. (Enter your answer in dollars and not in millions of dollars) Mr. Turner's taxable estate Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Mrs. Turner's taxable estate. (Enter your answer in dollars and not in millions of dollars.) Mrs. Turner's taxable estate Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the estate tax payable by Mrs. Turner's executor if Mrs. Turner made $4.8 million taxable gifts during her lifetime but paid no gift tax because of her lifetime transfer tax exclusion (Enter your answer in dollars and not in millions of dollars.) Estate tax payable Complete this question by entering your answers in the tabs below. Required A Required B Required Assume the facts in part b. Compute the estate tax payable by Mrs. Turner's executor assuming that Jeffrey predeceased his wife and had an unused $1.91 million lifetime transfer tax exclusion. In this case, Marcus inherited the residual of Mrs. Turner's estate net of charitable bequests. (Enter your answer in dollars and not in millions of dollars.) Estate tax payable

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