1. Stephen is the majority owner of Oak Industries, a leading manufacturer of electronic insulation. Oak Industries is being sold to a private equity firm. Stephen's share of the sale proceeds will be about $70 million, almost all of which is gain. He would like to give $10 million to a charitable entity that he would control and would allow him to give to public charities over time. Should Stephen use cash from the sale or contribute shares in Oak Industries prior to the sale to fund his charitable gift? And should he establish a private foundation or a donor-advised fund? Please explain your reasoning.