The date of death for a widow was 2018. If the estate was valued at $2,200,000 and the estate was taxed at 40 percent, what was the heir's tax liability? Use Exhibit 19-6 for Estate Exemption. (Do not round intermediate calculations.) Estate tax liability Exhibit 19.6 Estate tax law changes The Tax Cuts and Jobs Act of 2017 and the Economic Growth and Tax Robot floconciliation Act of 2001 brought important and significant changes to the federal state gift, and generation-stopping transfer (GST) taxes Estate Highest Exemption Estate Unified or Tax Gift Credit GST Tax TAX Rate Exemption Amount is Exemption Year 15 million) million (5 million) Notes 2001 55 0.675 0675 0675 2002 50 100 1.00 LOO Estate task exemption raised to St million top estate tax cut to 50% 2003 49 100 1.00 100 Top estate tax cut to 49% 2004 48 100 150 150 Estate taxemption rises to 515 mind top estate tax rate cut to 48% Top estate tax cut to 47% 2005 47 100 150 150 2006 46 100 2.00 2.00 Exemption is to $2 million top te declines to 4 2007 45 100 200 2.00 Top rate declines to 45% 2008 45 LOO 2.00 200 2009 45 100 3.50 3.50 No change Exemption rises to $3.5 million Estate tax completely repealed 2010 0 100 Repeal Repeal 35 1.00 5.00 2011 2012 500 35 522 512 2013 40 525 5.25 5.25 Exemptionises to $525 million Top estate tac ses to con 2014 40 5.43 5.4 543 5:45 5.45 2017 40 50 2018