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IRS says executors undervalued Prince's estate by 50%

abcnews.go.com

MINNEAPOLIS -- The ongoing controversy over the money left behind by Prince when he died without a will is heating up again after Internal Revenue Service calculations showed that executors of the rock star's estate undervalued it by 50%, or about $80 million.The IRS determined that Prince’s estate is worth $163.2 million, overshadowing the $82.3 million valuation submitted by Comerica Bank & Trust, the estate’s administrator.

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