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Life Insurance (LO 2.8) Greg died on July 1, 2021, and left Lea, his wife, a $40,000 life insurance policy which she elects to
Life Insurance (LO 2.8) Greg died on July 1, 2021, and left Lea, his wife, a $40,000 life insurance policy which she elects to receive at $4,000 per year plus interest for 5 years. In the current year, Lea receives $5,000. How much should Lea include in her gross income?
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
