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Penelope is a single woman that has given gifts in excess of $40,000,000 in taxable gifts over the last 20 years. This year she gave

Penelope is a single woman that has given gifts in excess of $40,000,000 in taxable gifts over the last 20 years. This year she gave a gift of $492,599 to her daughter. She promptly filed a gift tax return. How much tax will she owe on the gift assuming she made no other gifts to her daughter this year?

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