9 Father dies. Son is the named beneficiary in an insurance policy on the life of Father in the amount of $1,000,000. Son receives the $1,000,000 proceeds If instead of receiving the proceeds in a lump sum, assume that Son receives $130,000 a year for ten years. Son's taxable amount each year will be

Fother dies. Son is the named beneficiary in an insurance policy on the Ife of Father in the amount of $1,000,000. Son receives the $1000,000 proceeds If instewh at recelvinn the neneaers in a humn suin, assume that Son receives $130,000 a year for ten years: Son's taxable amount each year will be