Annalise is age $19$ and in college. Her parents provide more than half of her financial support and decide to gift assets that generate $$1,600$ in dividends to further help with college expenses. Her parents are in the $37\%$ marginal tax bracket and Annalise is in the $10\%.$ Through income shifting, by what amount did the parents reduce their taxes? $[$Use Kiddie Tax rules $(2023)]$

$[$Select best answer from the answer choices$]$

Group of answer choices

$$0$

$$557\mathrm{.}00$

$$129\mathrm{.}50$

$$94\mathrm{.}50$