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ACC312 Federal Taxation Mrs. Franklin, who is in the 39.6 percent tax bracket, owns aresidential apartment building that generates $80,000 annualtaxable income. She plans to create a family partnership by givingeach of her two children a 20 percent equity interest in thebuilding. (She will retain a 60 percent interest.) Mrs Franklinwill manage the building, and value of her services is $15,000 peryear. If Mrs. Franklin’s children are in the 15 percent taxbracket, compute the tax savings from this income-shiftingarrangement. (Ignore any payroll tax consequences.) . . .