Please TYPE your answers to the following questions. Show all of your computations 1. Scott places $830,000 in trust with income to Katherine (age 53) for 14 years, and remainder to Ben (age 36). Scott does not reserve any powers to alter, amend, revoke or terminate the trust. Calculate the amount of the gifts Scott has made. Assume a Federal interest rate of 4.4% 2. Emilia (age 24) places 2,535,000 in trust with income to Andy (age 32) and Victoria (age 38) for 35 years (Andy gets 40% and Victoria gets 60% ), remainder to Jill (age 18). Emilia does not reserve any powers to alter, amend, revoke or terminate the trust. Calculate the amount of the gifts Emilia has made. Assume a Federal interest rate of 5.2%. 3. Isaac (age 37) places $650,000 in trust with income to Robin (age 56) for her life, remainder to the University of Chattanooga Foundation for the Joanie Sompayrac Tax Professorship in Accounting. Isaac does not reserve any powers to alter, amend, revoke or terminate the trust. Calculate the amount of the gifts Isaac has made. Assume a Federal interest rate of 6.4%. 4. Taylor (age 41) puts $940,000 in trust. Taylor says the trust should pay Travis (age 31) $4,000 at the beginning of each quarter for 12 years, and then the remainder should go to Patrick (age 25). Taylor does not reserve any powers to alter, amend, revoke or terminate the trust. Calculate the amount of the gifts Taylore has made. Assume a Federal interest rate of 5.8%. 5. Sam (age 27) puts $1,750,000 in trust with income to Jack (39) and Nick (34) for 15 years. Jack will get 35% of the annual income, and Nick will get 65% of the annual income. The remainder will go to Sam or his estate. Sam does not reserve any powers to alter, amend, revoke or terminate the trust. Calculate the amount of the gifts Sam has made. Assume a Federal interest rate of 8.6%