Swifty Company uses the units-of-activity method in computing depreciation. A new plant asset is purchased for $54000 that will produce an estimated 150000 units over its useful life. Estimated salvage value at the end of its useful life is $3000. What is the depreciation cost per unit

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.