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Vince and Millie are married. Vince dies this year with a gross estate of $26 million and no adjusted prior gifts. Assume the estate
Vince and Millie are married. Vince dies this year with a gross estate of $26 million and no adjusted prior gifts. Assume the estate qualifies for the martial deduction. Required: Calculate the amount of estate tax due (if any) under the following alternative conditions. (Refer to Exhibit 25-1 and Exhibit 25-2.) a. Vince leaves his entire estate to Millle. b. Vince leaves $10 million to Millie and the remainder to charity. c. Vince leaves $10 million to Millie and the remainder to his son, Paul. d. Vince leaves $10 million to Millie and the remainder to a trust whose trustee is required to pay income to Millie for her life and the remainder to Paul. Note: For all requirements, enter your answer in millions rounded to 3 decimal places. Leave no answer blank. Enter zero if applicable. a. Amount of estate tax $ 0 million b. Amount of estate tax c. Amount of estate tax $ 0 million million d. Amount of estate tax million
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