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Christopher Marcos, of Santa Clarita, California, died in 2012 without leaving a valid will. His probate estate for federal estate tax purposes was $12 million. Christopher's wife, Amanda, and three children, were his only survivors. Although rules vary from state to state, California guidelines give half of the estate to the spouse and the other half is divided equally among children. How much will Christopher's youngest child, Mark, receive? (The textbook authors are not clear in this regard, but I think they want you to assume that any estate taxes will be levied AFTER the estate has been disbursed to the various heirs. Typically, estate taxes are paid BEFORE assets are transferred to heirs.)
a. nothing
b. 2 million
c. 2.5 million
d. 3 million
e. 4 million
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