Abank is required to maintain an average daily balance at the fed of $700 million. on the first day of the maintenance period it maintains a balance of $750 million, the next two days it maintains a balance of $725 million, the next three days it maintains a balance of $625 million, the next three days it maintains a balance of $775 million, the next two days it maintains a balance of $700 million, and the next two days it maintains a balance of $675 million. what does its balance at the fed has to be on the last day of the maintenance period in order to have a zero cumulative reserve deficit? a. $700 million b. $650 million c. $750 million d. $325 million e. none of the options is correct
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In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?
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Abank is required to maintain an average daily balance at the fed of $700 million. on the first day...
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