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The applicable credit is designed to: Multiple Choice apply only to taxable transfers included in the gross estate. is set at $12.92 million for any

The applicable credit is designed to: Multiple Choice apply only to taxable transfers included in the gross estate. is set at $12.92 million for any single transfer. apply to amounts not already eliminated by the exemption equivalent. prevent taxation of cumulative transfers below a specified minimum amount. None of the choices are correct

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