Hemingway corporation has 100,000 shares of common stock issued and outstanding. at the meeting of the board of directors on december 1, the board voted to declare a cash dividend of $5 per share to be paid on december 31, to shareholders of record as of december 16.complete the necessary journal entry on the date of declaration by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?