Question \#9. (4 points) Hayley forms a revocable trust. She informs you of the following: she will transfer to the trust $500,000 in cash, an apartment bullding that has 20 rent-paying tenants, and some stock in General Motors Corporation. She names her daughter Emma as the beneficiary of the trust. Hayley is in need of some advice because she is confused about what the income tax consequences will be. The trust will have interest income from the $500,000 that will be placed in a savings account, rental income from the apartment building, and dividend income from the GM stock. She asks you, "Who will report the income of the trust and who pays taxes on it? is it the trust, Emma, or me? Why?" Please advise Hayley