In 2016 Grantor established an irrevocable trust and transferred income producing property worth $45,000 to the trust, with all income to Grantor for IO years and a remainder to her Son. At the time of the transfer, the retained income interest had a value of $15,000 and the remainder interest had a value of $30,000. Grantor was not married during 2016 and made no other gifts. What is the amount of Grantor's "taxable gift"? (Hint: see Section 2702, especially 2702(b), i.e.,has grantor retained a "qualified interest''?).

A. $16,000

B. $30,000

c. $31,000

D. $45,000