Based on the following excerpt from New York Times on Trump Tax issues, which concepts) is (ore) used to reduce the valuation by another 45 percent? That enabled the Trumps to slash Mr. Von Ancken's valuation in a way that was legally dubious. They claimed that Fred and Mary Trump's status as minority owners, plus the fact that a building couldn't be sold as easily as a share of stock, entitled them to lop 45 percent off Mr. Von Ancken's $93.9 million valuation. This claim combined with $18.3 million more in standard deductions, completed the alchemy of turning real estate that would soon be valued at nearly 900 million into 541.4 million minority discount liquidity discount risky asset discount minority discount and liquidity discount