Mr. Chuck Rainy dies on May 21, 2009, and leaves his entire estate, valued at $3,600,000 (after settlement of all estate expenses and liabilities) to be equally divided among his sole surviving family members, his daughters Emily and Laura, and his son Tom.
REQUIRED
Calculate the federal tax on Mr. Rainy’s estate. (You may ignore any state-level inheritance taxes and assume that federal taxes are paid at the 45 percent rate.)