Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse, Kaffie, and the real estate to a church, The First Church of Methodology. The remainder of Tom's assets were to be placed in trust for three children. Tom's estate consisted of the following: Anneta Personal assets Cash and stock Intangible assets (film rights) Real estate Liabilities Mortgage Other Liabilities $ 1,130,000 25,300,000 78,000,000 16,300,000 $ 120,730,000 $ 4,500,000 5,400,000 $ 9,900,000 a. Tom made a taxable gift of $6.40 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) Note: Enter your answers in dollars, not millions of dollars. Gross estate Marital Deduction Charitable Deduction Debts Taxable Estate Adjusted taxable gifts Cumulative taxable transfers Tax on cumulative transfers Less taxes paid on prior gifts Tentative estate tax Applicable credit (tax on $12.06 million) Estate Tax Due $ 120,730,000 25,300,000 16,300,000 9,900,000 $ 69,230,000 6,400,000 $ 75,630,000