11. In. June 2007, Gerard invested $25,000 in a growth segregated fund with a 10-year maturity. His segregated fund contract contained a 75\% thaturty guarantee and a 100\% death benefit guarantee. Gerard died in May 2017 when the market value of his fund was $32,000. He had not named a beneficiary. How much did the insurer pay. Gerard's estate? $32,000 $25,000 $24,000 $18.750