LO.2 In each of the following independent situations occurring in 2012, determine the valuation to be used for estate tax purposes if § 2032A is elected.

Decedent Most Suitable Use Value Special Use Value Perry $3,000,000 $3,500,000 Hopkins 3,000,000 1,500,000 Morris 5,000,000 2,000,000 Allen 5,000,000 4,200,000