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An owner of a life insurance policy has paid $100,000 in premiums over the years. She surrenders the policy and receives $175,000 for the policy.

  1. An owner of a life insurance policy has paid $100,000 in premiums over the years. She surrenders the policy and receives $175,000 for the policy. How much if anything is included in her gross income? Assume this is not an accelerated death benefit.

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