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19-04-2024
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When Larry wrote his will, he left the following bequest: "I leave my investment portfolio currently valued at $100,000 to my alma mater, The College of High Achievement." When Larry passed away last year, the value of the investment portfolio was $30,000. How much will the University of High Achievement receive and what is this type of bequest called?
a. $30,000; Abatement
b. $0; Ademption
c. $100,000; Specific
d. $30,000; Residual

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