Melissa created an irrevocable trust using investment assets worth $300,000. The rate for calculating split gifts was 4%. Melissa’s friend Murray, age 50, will receive all the income, payable annually for his lifetime. At his death, all principal will pass outright to another friend, Marci, age 30, or to Marci’s estate. (a) Calculate the current value of Murray’s and Marci’s property interests. (b) Calculate the values if Murray was 60 and Marci was 80 when Melissa established the trust. (c) Comment on the influence of the parties’ ages on the values.