Jessica dies at the age of 88. Her husband passed away 5 years earlier. She has...

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Jessica dies at the age of 88. Her husband passed away 5 years earlier. She has a gross estate worth $50,000,000. Her taxable estate is $48,000,000. The federal estate tax exclusion amount is $12,000,000. The estate tax rate is 40%. Compute Jessica's estate taxes due. Jessica dies at the age of 88. Her husband passed away 5 years earlier. She has a gross estate worth $50,000,000. Her taxable estate is $48,000,000. The federal estate tax exclusion amount is $12,000,000. The estate tax rate is 40%. Compute Jessica's estate taxes due.

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The detailed answer for the above question is provided below I The answer is 14400000 The federal es... View the full answer