For 2014, the federal tax code allows an estate valued at up to $5.34 million to be transferred tax free to any heir. If the estate is valued at more than $5.34 million, the amount over $5.34 million will be taxed at
A) 25 percent.
B) 30 percent.
C) 40 percent.
D) 55 percent.
Answer: C
Business
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