In $2022,$ Don and his son purchased real estate for an investment. The price of the property was $$500,000,$ and the title named Don

and his son as joint tenants with the right of survivorship. Don provided $$320,000$ of the purchase price and his son provided the

remaining $$180,000.$ Has Don made a taxable gift and, if so$,$ in what amount?

Don has made a taxable gift of $$160,000.$

Don has made a taxable gift of $$70,000.$

Don has made a taxable gift of $$35,000.$

Don has made a taxable gift of $$54,000.$