1. Mrs. JK recently made a gift to her 19-year old daughter, Alison. Mrs. JK's marginal income tax rate is 35 percent and Alison's marginal income tax rate is 15 percent. In each of the following cases, compute the annual income tax savings resulting from the gift. (Keep in mind the assignment of income doctrine in deciding if there will be income tax savings.) a) The gift consisted of a corporate bond paying $7,500 annual interest to its owner. b) The gift consisted of the $7,500 interest payment on a corporate bond owned by Mrs. JK. c) The gift consisted of rental property generating $8,300 of annual rental income to its owner. d) The gift consisted of an $8,300 rent check written by the tenants who lease rental property owned by Mrs. JK.