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Exercise 27-24 (Algorithmic) (LO. 5) Noah and Sophia want to make a maximum contribution to their state's qualified tuition program (Code 529 plan) on behalf

Exercise 27-24 (Algorithmic) (LO. 5)

Noah and Sophia want to make a maximum contribution to their state's qualified tuition program (Code 529 plan) on behalf of their 3 grandchildren without exceeding the annual Federal gift tax exclusion.

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a. How much can they transfer to the plan for grandchildren without incurring a current Federal gift tax? $

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