Carter is the owner and CEO of Wordsworth Industries, Inc. The corporation has purchased a $4 million key person life insurance policy on Carters life and is the beneficiary of the policy. Which of the following statements are correct?

A. The $4-million death benefit will be included in Carters gross estate. B. At Carters death his beneficiaries will receive the cash value of the policy and Wordsworth Industries will receive the remaining death benefit amount. C. Wordsworth Industries will receive the $4-million death benefit, which could be subject to a corporate-level alternative minimum tax. D. Wordsworth Industries will have an increasing death benefit and Carter will have a decreasing death benefit amount