c. A gift of a painting worth $95,000 that Ramon purchased three years ago for s60,000. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at 60,000 . The amount deductible in the current year is 35,000 d. Ramon has decided to make a cash gift to the American Heart Association of $113,000. However, he is considering delaying his gift until next year when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his current-year income tax bracket of 24%. Assume a 6% discount rate. The present value factors, at a 6% discount rate, are as follows: PV Factor at 6% 0.9434 0.8396 0.7473 Year If required, round your final answers to the nearest dollar Ramon asks you to determine the tax savings from the tax deduction in present value terms if he were to make than delaying the gift until next year. For purposes of this analysis, ignore the potential impact of the overall limita deductions. the gift this year, rather 2 25,200 Total present value of ax savings from the tax deduction if made this year: S Total present value of tax savings from the tax deduction if made next year: Previous Next Check Mhy Work c. A gift of a painting worth $95,000 that Ramon purchased three years ago for s60,000. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at 60,000 . The amount deductible in the current year is 35,000 d. Ramon has decided to make a cash gift to the American Heart Association of $113,000. However, he is considering delaying his gift until next year when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his current-year income tax bracket of 24%. Assume a 6% discount rate. The present value factors, at a 6% discount rate, are as follows: PV Factor at 6% 0.9434 0.8396 0.7473 Year If required, round your final answers to the nearest dollar Ramon asks you to determine the tax savings from the tax deduction in present value terms if he were to make than delaying the gift until next year. For purposes of this analysis, ignore the potential impact of the overall limita deductions. the gift this year, rather 2 25,200 Total present value of ax savings from the tax deduction if made this year: S Total present value of tax savings from the tax deduction if made next year: Previous Next Check Mhy Work