Daniel passed away recently. His grandson John, Daniel's executor, is trying to figure out whether his grandfather's estate will be subject to estate taxes. To do this, John must understand the factors to be considered in calculating the taxable estate. Which of the following statements is true? Question 14Select one: a. Daniel left his life insurance proceeds to John. Daniel owned the policy. The proceeds will be included in the gross estate. b. Charitable contributions made within three years before Daniel's death will be included in his taxable estate. c. The applicable credit can only be used to eliminate or reduce estate tax. d. Funeral expenses paid out of the estate will not be part of the gross estate