Which of the following statements is true regarding Laura, an individual taxpayer who dies in 2020 with a gross estate of $10,000,000? No estate tax will be due if Laura has no prior year transfers. For estates of any decedent passing away in calendar year 2020, the basic exclusion amount is $10,000,000, Laura will owe estate tax because her estate is more than $5,000,000 in 2020. Estate tax is due because $10,000,000 is less than Laura's basic exclusion amount