COMPUTATION OF TAX
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 	  Tax on $700,000.00 at graduated rates	$ 23,500.00
        
          Tax on $114,000.00 at 6%		   6,840.00
                                                -----------
             Total Tax				$ 30,340.00
 
	     Less tax at 1% on $90,000.00 of
	     exemptions for beneficiaries and
	     insurance				     900.00
	   					-----------
	     Net Tax				$ 29,440.00
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          Since the tax is only an estimate and is being paid so far
 
in advance of the time of filing an estate tax return, to be safe, it
 
was deemed advisable to pay $30,000.00.  This amount not only exceeds
 
by a few hundred dollars the estimated tax but also includes the
 
$1,500.00 representing the five per cent of $30,000.00 to which the
 
estate is entitled because of the payment prior to October 11, 1945.
 
If at the time the final return is filed the tax due be less than
 
$30,000.00, the amount by which the payment exceeds the correct tax,
 
plus the five per cent discount on the correct tax, will be refunded
 
to the estate upon application.
 
          In estimating New York taxes, real estate and tangible
 
personal property located outside of New York State were excluded
 
because such property is not taxable in New York.  This includes the
 
real estate and personal property at Campobello Island, New Brunswick;
 
the real estate and personal property at Warm Springs, Gerorgia; and
 
the personal property located at Washington, D. C. at the time of
 
death, including household and personal effects and the stamp collec-
 
tion.