Problem $14-50($LO $14-3)($Algo$)$ Skip to question $[$The following information applies to the questions displayed below.$]$ Tom Hale was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse and his real estate to a church $($an $$A$$ charity$).$ The remainder of Tom$$s assets were to be placed in trust for three children. Tom$$s estate consisted of the following: Assets:$$Personal assets$ $1,020,000$Cash and stock$25,900,000$Intangible assets $($film rights$)81,000,000$Real estate$16,900,000$$ $124,820,000$Liabilities:$$Mortgage$ $5,100,000$Other liabilities$6,000,000$$ $11,100,000$ Problem $14-50$ Part a $($Algo$)$ a$.$ Tom made a taxable gift of $$7\mathrm{.}00$ million in $2011.$ Compute the estate tax for Tom's estate. $($Refer to Exhibit $25-1$ and Exhibit $25-2.)$

$[$The following information applies to the questions displayed below.$]$

Tom Hale was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse and his real estate to a church $($an $"\backslash ($ A $\backslash )"$ charity$).$ The remainder of Tom's assets were to be placed in trust for three children. Tom's estate consisted of the following:

Problem $14-50$ Part a $($Algo$)$

a$.$ Tom made a taxable gift of $\backslash (\backslash$$ $7\mathrm{.}00\backslash )$ million in $2011.$ Compute the estate tax for Tom's estate. $($Refer to Exhibit $25-1$ and Exhibit $25-2.)$ Note: Enter your answers in dollars, not millions of dollars.

$[$The following information applies to the questions displayed below.$]$

Tom Hale was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse and his real estate to a church $($an $"$A$"$ charity$).$ The remainder of Tom's assets

Problem $14-50$ Part a $($Algo$)$

a$.$ Tom made a taxable gift of $\backslash (\backslash$$ $7\mathrm{.}00\backslash )$ million in $2011.$ Compute the estate tax for Tom's estate. $($Refer to Exhibit $25-1$ and Exhibit $25-2.)$ Note: Enter your answers in dollars, not millions of dollars.