Jones is seriously ill and has $$4\mathrm{.}40$ million of property that he wants to leave to his four children. Jones is considering making a current gift of the property $($rather than leaving the property to pass through a will$).$ Assume all of his exemption equivalent was used and any taxable transfers will be subject to the highest transfer tax rate. $($Refer to Exhibit $25-1$ and Exhibit $25-2.)$

a$-1.$ Determine how much gift tax Jones will owe if the transfers are made now.

a$-2.$ If Jones makes a current gift, how much estate tax will be saved if Jones dies after three years, during which time the property appreciates to $$5\mathrm{.}2$ million?