At her death, Chow owned 55% of the stock in Finch Corporation, with the balance held by family members. In the past five years, Finch has earned average net profits of $1,740,000, and on the date of Chow's death, the book value of its stock is $4,350,000. An appropriate rate of return for Finch’s business is in is 5.9%. What value would the IRS argue that the stock Chow owned should be included in her estate?
At her death, Chow owned 55% of the stock in Finch Corporation, with the balance held by family members. In the past five years, Finch has earned average net profits of $1,740,000, and on the date of Chow's death, the book value of its stock is $4,350,000. An appropriate rate of return for Finch’s business is in is 5.9%. What value would the IRS argue that the stock Chow owned should be included in her estate?
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 30P
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At her death, Chow owned 55% of the stock in Finch Corporation, with the balance held by family members. In the past five years, Finch has earned average net profits of $1,740,000, and on the date of Chow's death, the book value of its stock is $4,350,000. An appropriate
What value would the IRS argue that the stock Chow owned should be included in her estate?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT