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Ms. Jolly recently made a gift to her 19-year-old daughter, Alison. Ms. Jolly's marginal income tax rate is 37 percent, and Alison's marginal income tax

Ms. Jolly recently made a gift to her 19-year-old daughter, Alison. Ms. Jolly's marginal income tax rate is 37 percent, and Alison's marginal income tax rate is 12 percent. Required: Compute the annua...

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