George and Margaret Wealthy are in the 48 percent tax bracket, considering both federal and state personal taxes. Norman Briggs, the CEO of Community General Hospital, has been aggressively pursuing a contribution from them of \($500,000\) to the hospital’s soon-to-be-built Cancer Care Center. Without the contribution, the Wealthys’ taxable income for 2016 would be \($2\) million. What impact would the contribution have on the Wealthys’ 2016 tax bill?