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Don transfers $100,000 of property in trust with a bank trustee and names his friends Larry (age 60) to receive all income for the rest

Don transfers $100,000 of property in trust with a bank trustee and names his friends Larry (age 60) to receive all income for the rest of Larry's life and Ruth (age 25) to receive the assets upon Larry's death. Assume the applicable rate is 4%. What is the value of each donee's gift?

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