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When Godfrey died in 2015, his assets were valued as follows:

Asset                  Date of death valuation                valuation six months later

Stock $2,220,000 $ 2,180,000

Bonds                   $4,600,000 $ 4,620,000

Home                    $800,000 $ 780,000

Total $7,620,000                                        $7,580,000

The executor sold the stock two months after the decedent’s death for $2,200,000. The bonds were sold seven months after the decedent’s death for $4,630,000. What valuation should be used for the gross estate?

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M91967738

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