Barry creates a trust with property valued at 7 million, Financial Accounting

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Barry creates a trust with property valued at 7 million

Barry creates a trust with property valued at $7 million. Under the terms of the trust instrument, Michelle (age 48) receives a life estate, while Terry (age 24) receives the remainder interest. In the month the trust is created, the interest rate is 4.4%. Determine the value of Barry's gifts*Please complete each problem on a separate tab in the Excel worksheet.

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Financial Accounting: Barry creates a trust with property valued at 7 million

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Financial Accounting: Barry creates a trust with property valued at 7 million

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