Question - Peter is single. In the current year, he made the following gifts:
- $15,000 cash to his son
- Equipment to his brother (FMV $12,000, Adjusted basis $8,000)
- $100,000 cash to DBU
- Jewelry to his daughter (FMV $40,000, Adjusted basis $12,000)
Peter has made taxable gifts in prior years of $125,000. Show the calculation of current year gift tax liability before unified credit.