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Below, Bob and Betty have provided a list of assets with their fair market value (FMV) and their obligations (principal only) as of January 1,

Below, Bob and Betty have provided a list of assets with their fair market value (FMV) and their obligations (principal only) as of January 1, 2018.

Bob'sCash account

$288,000

Betty'sSchedule C cash account

$56,000

Bob'swhole life insurance policy

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