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Arlene creates a trust with assets worth $1,000,000. Under the terms of the trust, Tracy (age 15) receives the income for eight years, remainder to
Arlene creates a trust with assets worth $1,000,000. Under the terms of the trust, Tracy (age 15) receives the income for eight years, remainder to Dawn (age 34). In the month the trust is created, the appropriate interest rate is 4.2%. Determine the value of Arlene's gifts.
Do not round your intermediate computations. Round final answers to the nearest dollar.
The value of Dawn's remainder interest is $719545, and the value of the term certain is $______.
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