7. Lina Lamay, Filipina, died in China leaving the following properties: House and lot in China P1,500,000 2,500,000 150,000 200,000 450,000 Vacant lot in Makati Shares of stock in a domestic corp., 60% of the business is located in the Philippines Shares of stock in a foreign corp., 70% of the business is located in the Philippines Car in Pasig How much is the gross estate, assuming the decedent is a non-resident alien? 8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?
7. Lina Lamay, Filipina, died in China leaving the following properties: House and lot in China P1,500,000 2,500,000 150,000 200,000 450,000 Vacant lot in Makati Shares of stock in a domestic corp., 60% of the business is located in the Philippines Shares of stock in a foreign corp., 70% of the business is located in the Philippines Car in Pasig How much is the gross estate, assuming the decedent is a non-resident alien? 8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![7. Lina Lamay, Filipina, died in China leaving the following properties:
House and lot in China
P1,500,000
2,500,000
150,000
200,000
450,000
Vacant lot in Makati
Shares of stock in a domestic corp., 60% of the business is located in the Philippines
Shares of stock in a foreign corp., 70% of the business is located in the Philippines
Car in Pasig
How much is the gross estate, assuming the decedent is a non-resident alien?
8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F64662eac-8bdc-4911-8940-cb6b7675cd5a%2F913bac33-10aa-4b34-a7b0-b4340153379d%2F4cet1mk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:7. Lina Lamay, Filipina, died in China leaving the following properties:
House and lot in China
P1,500,000
2,500,000
150,000
200,000
450,000
Vacant lot in Makati
Shares of stock in a domestic corp., 60% of the business is located in the Philippines
Shares of stock in a foreign corp., 70% of the business is located in the Philippines
Car in Pasig
How much is the gross estate, assuming the decedent is a non-resident alien?
8. Based on the problem given in no. 7, the rule of reciprocity applies, compute the gross estate?
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