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At the time of death on this year September 4, Kenneth owned

    At the time of death on this year September 4, Kenneth owned thefollowing assets.Fair Market ValueCity of Boston bonds 1,500,000Stock in Brown Corporation 800,000Promissory note issued by Brad (Kenneth’s son) 600,000In October, the executor of Kenneth’s estate received thefollowing: $120,000 interest on the City of Boston bonds (10,000 accrued sinceSeptember 2) and a $7,000 cash dividend on the Brown stock (date of record wasSeptember 1). The declaration date on the dividend was August 12. The $600,000loan was made to Brad in late 2010, and he used the money to create a verysuccessful business. Kenneth forgave the note in his will. What are the estate tax consequences of thesetransactions?

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