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Exercise 19-20 (Algorithmic) (LO. 1) im creates an irrevocable trust with $3,600,000 in securities. Under...

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Exercise 19-20 (Algorithmic) (LO. 1) im creates an irrevocable trust with $3,600,000 in securities. Under the trust terms, Alice (age 43) receives a life estate and Bernice (age 11) receives the remainder interest. The appropriate IRS valuation table reflects a remainder factor of 0,.67481 for age 11 and 0.30542 for age 43. Assume no QTIP election is made. If required, round your final answer to the nearest dollar. a. What is Jim's gift to Bernice? b. 1s the annual exclusion available for the gift to Bernice? Yes c. If Alice is Jim's wife, does Jim's gift to her qualify for the marital deduction? No

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