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Exercise 2724 (Algorithmic) (LO. 5) grandchidren without exceeding the annual Federal git tax exclumion. Fines Towatime For income tax and gift tax purposes, 5$29 pians

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Exercise 2724 (Algorithmic) (LO. 5) grandchidren without exceeding the annual Federal git tax exclumion. Fines Towatime For income tax and gift tax purposes, 5$29 pians possess attributes that reflect the best of all possible worids, Although no up-front Fideral income tox deduction is allowed, income earned by the fund accumulates free of incteme tar and distributions are not taxed if they are uned for higher edveation purpoces. A speciar provition atlows a doher to enjoy a git tax advantape by using five vears of annual exclusion. b. Eviresa your aiswer as a Microsoht Excel command

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