Problem 28-24 (LO. 2, 3)

The trustee of the Pieper Trust can distribute any amount of accounting income and corpus to the trust's beneficiaries, Lydia and Kent. This year, the trust incurred the following amounts.

Taxable interest income	$40,000
Tax-exempt interest income	20,000
Long-term capital gainsallocable to corpus	80,000
Fiduciary's feesallocable to corpus	9,000

The trustee distributed $26,000 to Lydia and $13,000 to Kent.

In your computations, do not round any division.

a. Pieper's trust accounting income is $.

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b. Pieper's DNI is $.

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c. Pieper's taxable income is $. (Round intermediate computations to four decimal places and final answer to nearest dollar.)

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d. How much is taxed to each of the beneficiaries? In your computations, round intermediate computations to five decimal places and final answers to nearest dollar.

Lydia has $of taxable interest and $of tax-exempt interest.

Kent has $of taxable interest and $of tax-exempt interest.