Clay, who was single, died in 2015 and has a gross estate valued at $8,500,000. Six months after his death, the gross assets are valued at $9,000,000. The estate incurs funeral and admin expenses of $125,000. Clay had debts amounting to $150,000 and bequeathed all of his estate to his children. During his life, Clay made no taxable gifts.

What is the amount of Clay’s taxable estate?

What is the tax base for computing Clay’s estate tax?

What is the amount of estate tax owed if the tentative estate tax(before credits) is $3,235,800?

Alternatively, if six months after his death, the gross assets in Clay’s estate declined in value $7,500,000, can the administrator of Clay’s estate elect the alternate valuation date? What are the important factors that the admin should consider as to whether the alternative valuation should be elected

This problem has been solved! see the answerthe xyz corporation is interested in possible differences in days worked by salaried employees in three departments in the financial area. a survey of 23 randomly chosen employees reveals the data shown below. because of the casual sampling methodology in this survey, the sample sizes are unequal. research question: are the mean annual attendance rates the same for employees in these three departments? days worked last year by 23 employees department days worked budgets (5 workers) 278 260 265 245 258 payables (10 workers) 205 270 220 240 255 217 266 239 240 228 pricing (8 workers) 240 258 233 256 233 242 244 249 picture click here for the excel data filefill in the missing data. (round your p-value to 4 decimal places, mean values to 1 decimal place and other answers to 2group mean n std. dev variancesbudgets payables pricing total one factor anova source ss df ms f p-value treatment error total