On august 14, park avenue bank lent $210,000 to city coffee shop on a 75 day, 4% note. what is the maturity value of the note? (use a 365minusday year. do not round intermediate calculations, and round your final answer to the nearest dollar.)
a. $218,400
b. $211,726
c. $211,750
d. $210,000

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.