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John inherits stock (a capital asset) from his brother, who died in March of 2022, when the property had a $6.8 million fair market value (FMV). This property is the only properfy included in his brother's gross estate and there is a taxable estate. The FMV of the property as of the alternate valuation date was $6.1 million. View the Preferential Rates for Adiusted Net Canstal Gain (ANCG) and Qualified Dividends. View the 2022 tax rate schedule for the Single filing status. Read the requirements. Requirement a. Why might the executor of the brother's estate elect to use the aitemate valuation date to value the property? (Enter your aniwer in whole dollars.) The executor of the brother's estate may elect the alternative valuation date to value the property because would be less and the Requirement b. Why might John prefer the executor to use FMV at time of the death to value the property? (Enter your answer in whole dollars.) John might prefer the executor to use FMV at the time of death because would be higher and he might have a when he sells or exchanges the land. Requirements a. Why might the executor of the brother's estate elect to use the alternate valuation date to value the property? b. Why might John prefer the executor to use FMV at time of the death to value the property? c. If the marginal estate tax rate is 40% and John's marginal income tax rate is 32% and his rate on adjusted net capital gain (ANCG) is 15%, which value should the executor use? (Assume that John is a single taxpayer.)

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