Gerald Wilkins owns a home worth $250,000,a car worth $15,000,various investments worth $600,000 and other personal assets worth $25,000.He still owes $125,000 on his mortgage and $5,000 on a car loan.The probate and administration costs of his estate are estimated at $5,000.What is his estimated net taxable estate?
A) $850,000
B) $870,000
C) $875,000
D) $755,000
E) $760,000
Correct Answer:
Verified
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