william is going to be inheriting a business that is worth a total of 3.2 million dollars. the il state…

william is going to be inheriting a business that is worth a total of 3.2 million dollars. the il state inheritance tax is 28.5%. what will be williams net worth after paying this?

william is going to be inheriting a business that is worth a total of 3.2 million dollars. the il state inheritance tax is 28.5%. what will be williams net worth after paying this?

Answer

Explanation:

Step1: Calculate the inheritance tax amount

The inheritance tax amount is 28.5% of 3.2 million dollars. So we calculate $3200000\times0.285 = 912000$.

Step2: Calculate the net - worth

The net - worth is the total worth of the business minus the inheritance tax amount. So we calculate $3200000 - 912000=2288000$.

Answer:

2288000 dollars