In each of the following independent situations, describe the effect of the disclaimer procedure on Floyd’s taxable estate. In this regard, advise how much should be disclaimed, by whom, and whether a disclaimer should be made. Assume the year involved is 2014. (I) Floyd's will leaves $5,540,0000 to his adult son and the remainder ($900,000) to Ann (Floyd’s surviving wife). (II) Floyd's will leaves $8,340,000 to Ann (Floyd's surviving wife) and the remainder ($2,000,000) to his adult daughter. (III) Floyd's will leaves $5,590,000 to Ann (Floyd's surviving wife) and the remainder ($500,000) to a qualified charity.