James has the choice of the following two Treasury Bills: A Government of Canada Treasury Bill for 98,000. The Canadian Treasury Bill matures in 120 days for 100,000. A U. S. Treasury Bill for 98,000. The U. S. Treasury Bill matures in 120 days for 100,000. Which of the following statements is NOT true? A. The quoted rate for the Government of Canada Treasury Bill is 6.2075%
B. The quoted rate for the Government of Canada Treasury Bill exceeds the quoted
C. The annual effective yield rate earned by the Government of Canada Treasury Bill
D. The annual effective interest rate earned by the Govermment of Canada Treasury
E. The annual effective interest rate earned by the U. S. Treasury Bill is greater than rate for the U. S. Treasury Bill.

Kis the insured and p is the sole beneficiary on a life insurance policy. both are involved in a fatal accident where k dies before p. under the common disaster provision, which of these statements is true?

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?