1:2-55 Income Shifting and Kiddie Tax. Ralph and Tina are married, file jointly, and have $500,000 of taxable income. They transfer ownership of corporate bonds to Pam, 282 their single, dependent daughter. Pam's only gross income for the current year is the $14,000 of interest on the corporate bonds. In each of the following cases, determine the amount of tax the family saves in the current year because Pam owns the bonds rather than Ralph and Tina. a. Pam is age 12. b. Pam is age 25