Under the unified rate schedule,
A. Lifetime taxable gifts are taxed on a noncumulative basis.
B. Transfers at death are taxed on a noncumulative basis.
C. Lifetime taxable gifts and transfers at death are taxed on a cumulative basis.
D. The gift tax rates are 5% higher than the estate tax rates.
Answer: C. Lifetime taxable gifts and transfers at death are taxed on a cumulative basis.
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