During the current year Blake transferred a corporate bond with a face amount and fair market value of $20,000 to a trust for the benefit of her 16 year-old child. Annual interest on this bond is $2,000, which is to be accumulated inthe trust and distributed to the child on reaching the age of 21. The bond is then to be distributed to the donor or her successor in interest in liquidation of the trust. Present value of the total interest to be received by the child is $8,710. The amount of the gift that is excludable from taxable gifts is

A. $20,000

B. $6,000

c. $8,710

D. $0