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

$

830,000

Cash and stock

25,600,000

Intangible assets (film rights)

79,500,000

Real estate

16,600,000

$

122,530,000

Liabilities:

Mortgage

$

4,800,000

Other liabilities

5,700,000

$

10,500,000

a.	Tom made a taxable gift of $6.70 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: