A donor gives a 1/12 undivided interest in all his rights in a painting to a public charity art museum (including the right to display the painting for one month per year). The donor gives an additional 1/12 undivided interest each year for 10 more years to the same art museum. The donor retains the final 1/12 interest to be kept by his family so that the art work can be displayed for one month out of the year in his family home. The painting is valued at $120,000 at the time of the initial 1/12 interest gift. Each year it increases by an additional $12,000 by the time of the transfer of each subsequent 1/12 interest gift. What is the total value of the deduction for this gift? $10,000 (year 1)+ $11,000 (year 2)+ $12,000 (year 3)+ $13,000 (year 4)+ $14,000 (year 5)+ $15,000 (year 5)+ $16,000 (year 6)+ $17,000 (year 7)+ $18,000 (year 8)+ $19,000 (year 9)+ $20,000 (year 10)+ $21,000 (year 11). $10,000 x 11 $22,000 x 11 $120,000 $0 (or less depending upon interest and penalties)