# Based on these facts, the net federal estate tax payable is

January 4, 2018
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January 4, 2018

Finance Basics

A married man died this year leaving a gross estate of \$2,750,000. Some additional facts concerning his estate are:

• Administration expenses and debts \$ 150,000

• Marital deduction 750,000

• Applicable credit amount (2005) 555,800

• Applicable exclusion amount (2005) 1,500,000

• State death taxes payable 22,200

Under the Unified Rate Schedule for computing estate taxes if the amount with respect to which the tentative tax to be computed is over \$1,000,000 but not over \$1,250,000, the tentative tax is \$345,800, plus 41 percent of the excess of such amount over \$1,000,000. If the amount is over \$1,250,000 but not over \$1,500,000, the tentative tax is then \$448,300, plus 43 percent of the excess of such amount over \$1,250,000. If the amount is over \$1,500,000 but not over \$2,000,000 the tentative tax is then \$555,800 plus 45% of the excess of such amount over \$1,500,000. Based on these facts, the net federal estate tax payable is

A. \$163,710

B. 0

C. \$151.490

D. \$147,510

Need full calculation and explanation