Amarried couple is trying to finance their three-year-old son’s college education. money can be deposited at 6% compounded quarterly. what end-of-quarter deposit must be made from the son’s 3rd birthday to his 18th birthday to provide $ 60,000 on each birthday from the 18th to the 21st? (note that the first deposit comes three months after his 3rd birthday and the last deposit is made on the date of the first withdrawal.)

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property