Terry, a single woman, had a gross estate of $14,000,000 at the time of her death in 2021. Assume funeral and administrative expenses were $85,000 and debts and taxes totaled $60,000. Terry gave her daughter a cash gift in 2020 of $115,000 and offset this gift with the annual exclusion which made the taxable gift $100,000. The gift tax on the gift was $23,800, however, it was offset by her unified credit of $4,625,800 in 2021. In Terrys will, she made a $100,000 bequest to her brother Ted. What are the total cash requirements for Terrys estate?

Gross Estate $ 14,000,000

-Funeral and Administrative Expenses $85,000

-Debts and Taxes $ 60,000

-Casualty and Theft Loss

Total deductions $ 145,000_______

=Adjusted Gross Estate $ ________________

-Marital Deduction

-Charitable Deduction

-State Death Tax Deduction

Total deductions $_________________

=Taxable Estate $_________________

+Adjusted Taxable Gifts $ ________________

=Tentative Tax Base $ ________________

Tentative Tax (compute tax) $_________________

-Gift tax paid or payable (credit) $_________________

=Estate Tax Payable before Credits $_________________

-Tax Credits

-Unified Credit ($4,625,800)

-Prior Transfer Credit $0

-Foreign Death Tax Credit $0 Total Credits $_________________

=Federal Estate Tax Payable $_________________

+Total Cash Bequests $ 100,000_________

Total Cash Requirements $__________________

	a.	$902,000
	b.	$516,200
	c.	$862,000
	d.	$1.002,000
	e.	$1,000,480