Which of the following are included in the gross estate: a. Proceeds from a life insurance policy owned by the decedent insured that was assigned to an ILIT two years before death of the insured. b. A secular trust where the only income beneficiary was the decedent’s spouse. c. Property where the decedent had a reversionary interest of less than 1% of the value. d. Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2