Question: Exercise 28-15 (Algorithmic) (LO. 2) The Bildge Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $27,800

Exercise 28-15 (Algorithmic) (LO. 2) The Bildge Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $27,800 in taxable interest and $69,500 in tax-exempt interest. In addition, the trust recognizes a $4,050 long-term capital gain. The trustee charges a fee of $17,375 for the year a. Compute trust accounting income, where the trust agreement allocates fees and capital gains to corpus b. Compute trust accounting income, where the trust agreement allocates fees to income. c. Construct a Microsoft Excel formula that will generate the correct answer to both parts (a) and (b). ACCTGINC TAXINT+MUNIINTIF(CGALLOC="YES",CAPGAIN,O) IF(FEEALLOC "YES" FEES, 0)

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