(Answered) Florence transferred 300000 to an irrevocable trust for her

Finance

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 Florence's taxable gift?

Select one:

a. $270,000

b. $272,000

c. $290,000

d. $300,000

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