Jose dies in the current year and has a gross estate valued at $13,000,000 in 2018. Over the past ten years, Jose had made taxable gifts of $400,000. The estate incurs funeral and administrative expenses of $100,000 and also pays off Jose's debts which amount to $300,000. Jose bequeaths $500,000 to his wife. What is the amount of Jose's tax base, the amount on which the estate tax is computed?
A. $1,320,000
B. $12,500,000
C. $12,100,000
D. $1,820,000
Answer: B
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Fill in the blank(s) with the appropriate word(s).
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Fill in the blank(s) with correct word
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