Tom Hruise was an entertainment executive who had a fatal accident on a film set. Toms will directed his executor to distribute his cash and stock to his wife, Kaffie, the real estate to his church, The First Church of Methodology, and the remainder of his assets were to be placed in trust for his three children. Toms estate consisted of the following:

Assets:

Personal assets $ 1,210,000

Cash and stock 25,000,000

Intangible assets (film rights) 76,500,000

Real estate 16,000,000

Total Assets $ 118,710,000

Liabilities:

Mortgage $ 4,200,000

Other liabilities 5,100,000

Total Liabilities $ 9,300,000

Tom made a taxable gift of $6.10 million in 2011.

Compute the estate tax for Toms estate. (Reference the tax rate schedule in Exhibit 25-1 and the Unified Credit schedule in Exhibit 25-2 to answer this problem.)

Gross Estate ____________

Marital Deduction ___________

Charitable Deduction __________

Debts _________

Taxable Estate ___________ Prior Taxable Gifts _________

Cumulative Taxable Transfers ________

Tentative Tax ________

Current Tax on Adjusted Taxable Gifts _________

Gross Estate Tax __________

Unified Credit __________

Estate Tax Due __________