Mr. Ito, an unmarried Individual, made a gift of real estate to his son. Assume the taxable year is 2022 Required: a. Compute the amount subject to federal gift tax when the FMV of the real estate was $4.75 million, and the transfer was Mr. Ito's first taxable gift. b. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million, and the transfer was Mr. Ito's first taxable gift. c. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million. Two years ago, Mr. Ito made his first taxable gift: marketable securities with a $3 million FMV in excess of the annual exclusion. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million, and the transfer was Mr. Ito's first taxable gift. Note: Enter your answer in dollars and not in millions of dollars. Amount subject to federal gift tax $ 10,235,000 Required A Required C > Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is Not over $20,550 Over $20,550 but not over $83,550 Over $83,550 but not over $178,150 Over $178,150 but not over $340,100 Over $340,100 but not over $431,900 Over $431,900 but not over $647,850 Over $647,850 Married Filing Separately If taxable income is Not over $10,275 Over $10,275 but not over $41,775 Over $41,775 but not over $89,075 Over $89,075 but not over $170,050 Over $170,050 but not over $215,950 Over $215,950 but not over $323,925 Over $323,925 Head of Household If taxable income is Not over $14,650 Over $14,650 but not over $55,900 Over $55,900 but not over $89,050 Over $89,050 but not over $170,050 Over $170,050 but not over $215,950 Over $215,950 but not over $539,900 Over $539,900 Single If taxable income is Not over $10,275 Over $10,275 but not over $41,775 Over $41,775 but not over $89,075 Over $89,075 but not over $170,050 Over $170,050 but not over $215,950 Over $215,950 but not over $539,900 Over $539,900 The tax is 10% of taxable income $2,055.00 + 12% of excess over $20,550 $9,615.00 22% of excess over $83,550 $30,427.00 + 24% of excess over $178,150 $69,295.00 +32% of excess over $340,100 $98,671.00 -35% of excess over $431,900 $174,253.50 -37% of excess over $647,850 The tax is 10% of taxable income - $1,027.50+12% of excess over $10,275 $4,807.50 +22% of excess over $41,775 $15,213.50 24% of excess over $89,075 $34,647.50 -32% of excess over $170,050 $49,335.50-35% of excess over $215,950 $87,126.75 -37% of excess over $323,925 The tax is 10% of taxable income $1,465.00 +12% of excess over $14,650 $6,415.00 +22% of excess over $55,900 $13,708.00 +24% of excess over $89,050 $33,148.00 32% of excess over $170,050 $47,836.00 + 35% of excess over $215,950 $161,218.50 -37% of excess over $539,900 The tax is 10% of taxable income - $1,027.50+12% of excess over $10,275 $4,807.50 +22% of excess over $41,775 $15,213.50 24% of excess over $89,075 $34,647.50 -32% of excess over $170,050 $49,335.50-35% of excess over $215,950 $162,718 +37% of excess over $539,900 Married filing jointly and surviving spouses Married filing separately $25,900 12,950 Head of household 19,400 Single 12,950 Tax rates for capital gains and qualified dividends Married Filing Separately Rate 0%* Married Filing Jointly $0-$83,350 15%** 20% $83,351 $517,200 $517,201+ $0-$41,675 $41,676 $258,600 $258,601- Single $0 - $41,675 $41,676-$459,750 $459,751- * The highest income amount in this range for each filing status is referred to as maximum zero rate amount. Head of Household $0-$55,800 $55,801-$488,500 $488,501+ ** The highest income amount in this range for each filing status is referred to as maximum 15-percent amount