John is the beneficiary of a $100,000 insurance policy on the life of his mother, Marie. To date, Marie has paid premiums of 555,00 Requirement What amount of gross income must be reported in each of the following cases? a. Marie elects to cancel the policy and receives $75,000, the cash surrender value of the policy b. Marie dies and John receives the face amount of the policy, 5100,000 c. Marie dies and John elects to receive $32,500 per year for four years a. Marie elects to cancel the policy and receives $75,000, the cash surrender value of the policy ET O A. Mario must include $75,000 in her income OB. John must include $20.000 in his income OC. John must include $75,000 in his income OD. Marie must include $20.000 in her income b. Murie dies and John receives the face amount of the policy, $100,000. (Enter "0 if none of the gross income is taxable ) The amount John must include in his income is c. Marie dies and John elects to receive $32,500 per year for four years. (Enter "o" if none of the gross income is taxable.) The amount John must report as income each year for four years is