Question: 1 . LO . 3 , 6 Regarding the formula for the Federal estate tax ( see Concept Summary 2 9 . 2 ) ,

1. LO.3,6Regarding the formula for the Federal estate tax (seeConcept Summary 29.2), comment on the following:
1. The gross estate includes only property interests owned by the decedent at the time of death.
2. The gross estate is not the same as the probate estate.
3. Taxable estate Applicable unified transfer tax rate = Estate tax due

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