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Larisa owns a $300,000 whole life insurance G2 policy with a CSV of $42,000 and an ACB of $20,000. She applies to reduce her coverage

Larisa owns a $300,000 whole life insurance G2 policy with a CSV of $42,000 and an ACB of $20,000. She applies to reduce her coverage to $200,000. Assuming her marginal tax rate is 35%,

How much will be the tax payable for the resulting policy gain?

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