Mark intends to sell his car for $2,500. Ken sends him an e-mail offering to buy the car and wants to know the asking price. Mark responds with an e-mail in which he mistakenly states the asking price as $25. Ken agrees to buy the car for $25. What resultA. The contract is legally enforceable because it was a mistake of value rather than a mistake of fact. B. The contract is legally enforceable because Ken made a unilateral mistake. C. The contract is probably unenforceable because Ken should have known that Mark had made a mistake. D. The contract is unenforceable because Ken is a minor.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

Which of the following best describes why you need to establish goals for your program?

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?