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If the amount of federal estate tax due on an estate valued at 1.35 million USD is 437,000USD plus 43 percent of the value of the estate in excess of 1.25 million USD, then the federal tax due is approximately what percent of the value of the estate?

Explanation	Calculations	Help
$We create a variable for the estate value in millions, and we translate "estate valued at 1.35 million USD" into an equation.$	$E = 1.35$	Theory & Tactics Method Card TRANS1-A Click to view full details Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS4-C Click to view full details
$We translate "tax due ... is 437,000 USD plus 43 percent of the value of the estate in excess of 1.25 million USD" into a formula, converting 437,000 USD to 0.437 million USD.$	$T = 0.437 + \frac{43}{100} \times (E - 1.25)$	Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS1-C Click to view full details Theory & Tactics Method Card TRANS2-A Click to view full details
$We calculate the tax amount in millions using the formula.$	$T = 0.437 + 0.43 \times (1.35 - 1.25) T = 0.437 + 0.43 \times 0.10 T = 0.437 + 0.043 T = 0.480$

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If the amount of federal estate tax due on an estate valued at 1.35 million USD is 437,000USD plus 43 percent of the value of the estate in excess of 1.25 million USD, then the federal tax due is approximately what percent of the value of the estate?

Explanation	Calculations	Help
$We create a variable for the estate value in millions, and we translate "estate valued at 1.35 million USD" into an equation.$	$E = 1.35$	Theory & Tactics Method Card TRANS1-A Click to view full details Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS4-C Click to view full details
$We translate "tax due ... is 437,000 USD plus 43 percent of the value of the estate in excess of 1.25 million USD" into a formula, converting 437,000 USD to 0.437 million USD.$	$T = 0.437 + \frac{43}{100} \times (E - 1.25)$	Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS1-C Click to view full details Theory & Tactics Method Card TRANS2-A Click to view full details
$We calculate the tax amount in millions using the formula.$	$T = 0.437 + 0.43 \times (1.35 - 1.25) T = 0.437 + 0.43 \times 0.10 T = 0.437 + 0.043 T = 0.480$

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35%