Fabio owns a $$250,000$ non$-$participating whole life insurance policy. He purchased the policy $12$ years ago when he was $33$ years old. When he looks at urrender value should be at $$55,000.$ Fabio's other investments have recently lost a lot of money. He would like to surrender this policy for the cash value, lelp Fabio better understand how to set a realistic expectation of what he might receive by selecting an option from the list:

a$.$ $$55,000,$ with no applicable taxes

b$.$ $$250,000,$ with no applicable taxes.

C$.$ $$250,000,$ minus applicable taxes.

d$.$ $$55,000,$ minus applicable taxes.