8. (6 points) Taxpayer, age 75, has 3 assets he is considering transferring to his adult children. He can do this now, as a gift, or hold until death. Taxpayer is not worried about cash flow, is not married, and has already consumed his exemption equivalent. Please comment on tax implications on each of the 3 assets comparing the impact to the recipient if the asset is received as gift (i.e. during lifetime of taxpayer) or as an inheritance (i.e. at death of taxpayer). a. Asset 1-portfolio of publicly traded securities that have much higher cost basis than FMV. b. Asset 2-depreciable assets used in a trade or business including a mixture of real property and personal property. Almost all of the property has been fully depreciated. Thus, an unrealized gain exists when comparing fair value to adjusted basis. C. Asset 3-investment into a new technology company that expects to grow 100 times in value within 5 years based on breakthrough technology