tax rate of 21%

25-25 Computation of DNI and Trust's Tax Liability. Trust M has the following receipts disbursements for the current year: $ 4,000 25,000 11,000 9,000 $49,000 $ 2,400 Receipts: Nontaxable interest Taxable interest Rents Long-term capital gain allocable to principal Total receipts Disbursements: Rent expense Trustee fee 1.000 Total disbursements The trustee is required to distribute all trust income to beneficiary N on a quarter- ly basis. a. Compute Trust M's DNI for the current year. b. Compute Trust M's taxable income for the current year. c. Compute Trust M's tax liability for the current year. $ 3,400 25-25 Computation of DNI and Trust's Tax Liability. Trust M has the following receipts disbursements for the current year: $ 4,000 25,000 11,000 9,000 $49,000 $ 2,400 Receipts: Nontaxable interest Taxable interest Rents Long-term capital gain allocable to principal.. Total receipts Disbursements: Rent expense Trustee fee 1.000 Total disbursements The trustee is required to distribute all trust income to beneficiary N on a quarter- ly basis. a. Compute Trust M's DNI for the current year. b. Compute Trust M's taxable income for the current year. c. Compute Trust M's tax liability for the current year. $ 3,400