Laura transferred property valued at $120,000 into an irrevocable trust. Laura is to receive one-half of the income each year for the balance of her life. The other half of the income and the remainder interest are to go to Robert. One year before her death, Laura gave up her right to receive her half of the income, so all the income is payable to Robert. The property is worth $160,000 when Laura dies. How much is includible in Laura's gross estate?