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B Manpreet Dubb (CIPR #318207): Attempt 4 stion 10 (1 point) Richard was recently divorced. He has made a new will and is bequeathing
B Manpreet Dubb (CIPR #318207): Attempt 4 stion 10 (1 point) Richard was recently divorced. He has made a new will and is bequeathing all his assets to his children, including an antique car collection he inherited from his father The ACB of the collection is $100,000, but its current market value is $400.000 Richard's marginal tax rate is 40%. He is considering buying life insurance to relieve his estate of the tax burden created by the value of the collection. What amount of life insurance should Richard buy? a) $400,000. b) $300,000. c) $100,000. d) $60,000.
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