Solved: Estate marginal income tax rate, Accounting Basics

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Estate marginal income tax rate

Problem:

When Yuji dies in March 2009, his gross estate is valued at $6 million. He owes debts totaling $300,000. Funeral and administration expenses are $12,000 and $120,000, respectively. The marginal estate tax rate will exceed his estate's marginal income tax rate. Yuji wills his church $300,000 and his spouse $1.1 million. What is Yuji's taxable estate?

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Accounting Basics: Estate marginal income tax rate

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