Christian Transferred $60,000 to an Irrevocable Trust for the Benefit

Christian transferred $60,000 to an irrevocable trust for the benefit of his three daughters. The three daughters share income equally for five years and then the corpus of the trust is to be divided equally between them. What is the amount of the taxable gifts, if any, made by Christian?

A) $60,000
B) $47,000
C) $34,000
D) $21,000
E) None of these - the amount of the taxable gifts cannot be ascertained without valuing each income interest.