16.) Ricardo has a gross estate of $10.8 million. He wants to gift some property to his son Laredo to reduce the value of his gross estate at death. Which property should Ricardo gift? a. A vacation home worth $600,000 that Ricardo inherited from his mother at a basis of $100.000. Laredo and his family vacation there every year and would never sell the home. b. Four lakefront cottages that Ricardo bought for $150,000, which he owns and manages. The cottages were recently appraised at $600,000. Ricardo and his wife do not want to manage the cottages after Ricardo dies, and they plan to sell them soon after his death. C. An investment in undeveloped land valued at $600,000 that Ricardo purchased for $700,000 17.)A donor makes a gift to a donee. Which of the following statements is correct with respect to the basis of the property? a. The donor's basis is always carried over to the done. b. The donor's basis is always carried over if the property is transferred at a loss. C. The donee acquires the donor's basis as long as the property is transferred at a gain. d. The donee's basis is equal to the FMV of the property on the date of the transfer. 18.) Linda transferred $1 million into a trust for the benefit of her son Luke, who is age 36. Luke will receive all income for life and then Serena, Linda's granddaughter and Luke's daughter, will receive the remainder interest. Using IES Valuation Table S for a single life with a 6% interest rate (provided below), what is the amount of the taxable gift (after any applicable exclusion, if available) Linda made to Luke? Annuity 14.7060 Life Estate 0.88236 Remainder 0.11764 a. $882,360 b. $867,360 c. $117,640 d. $0