For a specified amount universal life insurance policy, you are given: The face amount of the policy is $100,000 The account value on December 31, 2011 was $15,000. On January 1, 2012, a premium of$1000 was made. No other premiums were made in 2012. The expense charge and the cost of insurance deducted on January 1, 2012 were $100 and $150, respectively The credited interest rate in 2012 was 6% per annum effective. The surrender charge applicable in 2012 was $10 per $1000 face amount. Calculate the cash value (or Surrender Value) of the policy on December 31, 2012