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The gross estate of John Cato included his solely owned principal residence. The house was...

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Accounting

The gross estate of John Cato included his solely owned principal residence. The house was valued at $500,000 and it was subject to a mortgage of $350,000. John's estate assets are not liable for repayment of the mortgage. What value does the estate report for the residence on Form 706, Schedule A?

A)$500,000

B)$350,000

C)$200,000

D)$150,000

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