David was the income beneficiary of a trust created by George with a remainder to Zander or Zander's estate. David also had a noncumulative general power to appoint $15,000 per year out of the corpus of the trust, which at all times had a value of $200,000. The trust was created five years ago, and each year, by reason of nonexercise, the noncumulative general power to appoint lapsed. David dies in Year 5. 

What are David's tax consequences? 

What is the result if the trust corpus appreciated from $200,000 to $300,000 in the year of Decedent David's death?