Bill and Ellen are husband and wife with 5 married children and 8 grandchildren. Commencing in December 2022, they would like to transfer a tract of land (worth $1,200,000) equally to their children (including spouses) and grandchildren as quickly as possible without making a taxable gift.

Assume the amount of the annual gift tax exclusion for 2022 applies in 2023 and 2024.

If the election to split the gifts is made, and using the available annual exclusions, Bill and Ellen may gift the land worth $1,200,000 (without creating a taxable gift) over three years as follows: $____ in tax-free gifts for 2022, $f_____ in tax-free gifts for 2023 and $______ in tax-free gifts for 2024.