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AICPA - US Taxation (1) Lee was the owner of a $100,000 life insurance policy on a parent. Lee sold the policy to Park for

AICPA - US Taxation (1) Lee was the owner of a $100,000 life insurance policy on a parent. Lee sold the policy to Park for $30,000. Park paid a total of $50,000 in premiums. Upon the death of the pare...

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