Mr. Ash died on June 15 of the previous year. The assets in his estate...
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Accounting
Mr. Ash died on June 15 of the previous year. The assets in his estate were valued on his date of death and alternate valuation date, respectively, as follows:
Date of Death
Alternate
Asset
Valuation
Valuation
Home
$2,500,000
$3,000,000
Stock
4,250,000
4,500,000
Bonds
2,000,000
1,250,000
Patent
1,000,000
950,000
The patent had 10 years of its life remaining at the time of Mr.Ash's death. The executor sold the home on August l of the previous year for $2,750,000. If Mr.Ash's executor elects the alternate valuation date method,what is the value of Mr. Ash's estate?
A.
$8,950,000
B
$9,450,000
C.
$9,500,00
D. $9,700,000
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