Florence transferred $300,000 to an irrevocable trust for her two children. She granted them a noncumulative right to withdraw the greater of $5,000 or 5% of trust assets each year. Her children did not make any withdrawal this year. What is the amount of Florences taxable gift?

Select one: a. $270,000 b. $272,000 c. $290,000 d. $300,000