Complete the following chart, indicating the comparative attributes of thetypical simple trust and complex trust by answering yes/no or explaining thedifferences between the entities where appropriate. Attribute Simple Trust Complex Trust Trust could incur its own tax liability for theyear Trust generally distributes all of the DNI Trust can deduct its charitablecontributions in the year of or the yearafter payment Trust could claim a foreign tax creditMaximum tax rate on net long-term capitalgains 20%AMT preferences and adjustments flowthrough to beneficiaries ratably Trust can adopt the FIFO method for itsinventory assets; the grantor had beenusing lower of cost or market Trust can use a tax year other than thecalendar yearAmount of personal exemption