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Harry, an insurance representative from Main Life Insurance Company soldJanet an exempt whole life policy with annual premium of $5,000. The net cost ofpure insurance

Harry, an insurance representative from Main Life Insurance Company soldJanet an exempt whole life policy with annual premium of $5,000. The net cost ofpure insurance was $1,300. She needed some money to pay down on a car moneyand so she got a loan of $1,000 from the insurance company at a low rate of 2%.She had also collected a dividend of $200. What is the ACB of the policy

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