Question: Assume the same facts as in Problem 41 with the following modifications. The bonds were issued by the Houston (TX) Independent School District. The dividend

Assume the same facts as in Problem 41 with the following modifications.

  • The bonds were issued by the Houston (TX) Independent School District.
  • The dividend record date was September 3 (not September 5).
  • Kenneth’s will does not forgive Brad’s note. The business that Brad started with

the loan funds was not successful and is near receivership.

What amount is included in Kenneth’s estate?

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