On January 15th, Linus transfers property to a trust over which he retains a right to revoke one-fourth of the trust. The trust is to pay Patti 5% of the trust assets valued annually for her life with the remainder to be paid to a qualified charity. On September 1st, Linus dies and the trust becomes irrevocable. Which of the following statements is/are correct?

a. The trust is created January 15th. b. The trust is created when it becomes irrevocable at September 1st. c. Linus receives a charitable deduction equal to the present value of 25% of the remainder interest. d. Linus receives a charitable deduction equal to the present value of 75% of the remainder interest.