Melissa is a very generous single woman. Before this year, she had given $2,000,000 in taxable gifts over the years. In the current year, Melissa gave her daughter Riley $100,000 and promptly filed her gift tax return. Melissa did not make any other gifts this year. How much gift tax must Melissa pay the IRS because of this transaction?
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Melissa is a very generous single woman. Before this year, she had given $2,000,000 in taxable gifts...
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