1. Dana made no taxable gifts prior to 2018. In 2018, Dana gifted $1,000,000 cash to each of her three children, A, B and C, (i.e. $3,000,000 total). In 2019, Dana transferred shares of stock with a fair market value ("FMV") of $3,000,000 to an irrevocable trust to over which Dana retained no control. In 2021 Dana died with a taxable estate of $10,000,000. Dana also made cash gifts of $15,000 gifts to each of her children each year. a. CALCULATE: What is Dana's gift tax liability (tax due), if any, in 2019? b. YES or NO: Does the 2018 gift cause any income tax consequences to Dana's children? CALCULATE: What, if anything, is the estate tax due in 2021 d. CALCULATE: If the trust made a $300,000 cash distribution to C in 2020, what would be the tax consequences to C, if anything?| c. 1. Dana made no taxable gifts prior to 2018. In 2018, Dana gifted $1,000,000 cash to each of her three children, A, B and C, (i.e. $3,000,000 total). In 2019, Dana transferred shares of stock with a fair market value ("FMV") of $3,000,000 to an irrevocable trust to over which Dana retained no control. In 2021 Dana died with a taxable estate of $10,000,000. Dana also made cash gifts of $15,000 gifts to each of her children each year. a. CALCULATE: What is Dana's gift tax liability (tax due), if any, in 2019? b. YES or NO: Does the 2018 gift cause any income tax consequences to Dana's children? CALCULATE: What, if anything, is the estate tax due in 2021 d. CALCULATE: If the trust made a $300,000 cash distribution to C in 2020, what would be the tax consequences to C, if anything?| c