Required information [The following information applies to the questions displayed below.] Banele had a taxable estate of $15.5 million when they died this year. Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to and Exhibit 25-2.) Note: Enter your answers in dollars and not in millions of dollars. a. Banele's prior taxable gifts consist of a taxable gift of $1 million in 2005 . EXHIBIT 25-1 Unified Transfer Tax Rates* EXHIBIT 25-2 The Exemption Equivalent / Applicable Exclusion Amount *The estate tax was optional for decedents dying in 2010. In lieu of the estate tax, executors could opt to have the adjusted tax basis of the assets in the gross estate carry over to the heirs of the decedent. The applicable credit and exemption are zero for taxpayers who opt out of the estate tax in 2010