Ben Pierce makes the following four gifts on May $23,2018$:

$$ $$7,000,000$ of $($appraised fair market value on the date of the gift$)$ of Medical Auxiliary Support

Hydraulics, Inc. stock to Ben$$s daughter, Margaret. Ben has an adjusted basis of $$500,000$ in this stock

gifted to Margaret.

$$ $$7,000,000$ of $($appraised fair market value on the date of the gift$)$ of Medical Auxiliary Support

Hydraulics, Inc. stock to Ben$$s son, Frank. Ben has an adjusted basis of $$500,000$ in this stock gifted to

Frank.

$$ $$1,000,000$ cash to Ben$$s nephew, Walter.

$$ $$1,000,000$ cash to Ben$$s nephew, Maxwell.

Other information:

$$ Ben has never made prior gifts and these are the only gifts he has ever made

$$ Ben was never married

$$ Ben did not die during $2018$ through $2021$

$$ Ben has always been a US citizen

$$ No valuation discounts were claimed

$$ Invent your own addresses, Taxpayer Identification Numbers and any other information needed to

complete the $2018$ Form $709$

$$ No transfers are subject to the generation skipping transfer tax $($do not complete Parts $2$ and $3$ of

Schedule A or Schedule D$)$

$$ Do not prepare Schedule C

$$ Use a $$0$ entry for lines $8,10,13,16$ & $18$ of Part $2$

$$ Use $$15,000$ for the annual gift tax exclusion for all years

$$ Use $$11,180,000$ for the applicable exclusion for all years

Required: Work on your own to prepare a $2018$ Federal Gift Tax Return $($Form $709)$ minimizing the gift tax.

Complete this Form $709$ Problem project before you do the Form $706$ Problem. Assume that all gift and estate

tax rates and rules are the same for all years.