The Rivendell Family Trust is a discretionary trust with four beneficiaries Dillinger, Escort, Fred, and George. - Dillinger is 22 years old and works full time - Escort is 17 years old and is full time at school - Fred is 17 years old and works full time and does not intend to return to school ever - George is 30 and declared insane Dillinger and Escort are each entitled to 20% of the income from the trust. Fred is entitled to 15% of the income of the trust. George is entitled to 30% of the income from the trust. current year. The trust meets the tests to carry forward losses and the deed specifies losses are to be met out of trust income. Required: 1. Calculate the 595 net trust income. (2 marks) 2. Calculate how much money each beneficiary will receive. (4 marks) 3. Calculate the amount NOT distributed to a named beneficiary (ie the residue). (2 marks) The Rivendell Family Trust is a discretionary trust with four beneficiaries Dillinger, Escort, Fred, and George. - Dillinger is 22 years old and works full time - Escort is 17 years old and is full time at school - Fred is 17 years old and works full time and does not intend to return to school ever - George is 30 and declared insane Dillinger and Escort are each entitled to 20% of the income from the trust. Fred is entitled to 15% of the income of the trust. George is entitled to 30% of the income from the trust. current year. The trust meets the tests to carry forward losses and the deed specifies losses are to be met out of trust income. Required: 1. Calculate the 595 net trust income. (2 marks) 2. Calculate how much money each beneficiary will receive. (4 marks) 3. Calculate the amount NOT distributed to a named beneficiary (ie the residue). (2 marks)