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TIMED TASK. NEED HELP ASAP. Lika-lika died leaving the following properties: House and lot in the Philippines P (mortgaged for P300,000) 1,250,000 Condominium unit in
TIMED TASK. NEED HELP ASAP.
Lika-lika died leaving the following properties: House and lot in the Philippines P (mortgaged for P300,000) 1,250,000 Condominium unit in Hongkong 1,000,000 Car in the Philippines 70,000 Car in Hongkong 60,000 Franchise exercised in the 300,000 Philippines Franchise exercised in New York, 25,000 USA Domestic shares, certificate kept 55,000 in New York, USA Foreign shares, 90% of business in 60,000 the Philippines Foreign shares, 30% of business in the Philippines, with business situs 15,000 in the Philippines. Foreign shares, 60% of business in 75,000 the Philippines The gross estate if the decedent was a resident citizen, resident alien or a non-resident citizen is O 1,620,000 1,770,000 O 1,750,000 2,910,000Step by Step Solution
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