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ue.32. Compute the undervaluation penalty for each of the following independent cases involving the value of a closely held business in the decedents gross estate.

ue.32. Compute the undervaluation penalty for each of the following independent cases involving the value of a closely held business in the decedents gross estate. In each case, assume a marginal estate tax rate of 35% Reported value Corrected IRS Valuation a. $20000 $25000 b. 100000 150000 c. 150000 250000 d. 150000 500000

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