Explain.0.25 ptsQuestion 2$22,4000$2,240,000$1,142,000$2,200,000Prob. 7 - How much property can Herman, a widower, give to his four married children, their spouses and eight grandchildren over ten years without having make ataxable gift? Show your computations.0.25 ptsQuestion 3Prob. 10. The Irontown Independent School District wants to sell a parcel of unimproved land that it does not need. Its three best offers areas follows: from the State Department of Public Safety (DPS), $4.3 million; Trinity Lutheran Church, $4.2 million; and from Baker Motors ,$3.9 million. DPS would use the property for a new State Highway Patrol barracks. Trinity would start a church school and Baker would opena car dealership. As the Pinancial advisor for the school district, which would you prefer? Why?Trinity Lutheran ChurchDPSBaker MotorsDon't sell.