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Life insurance. Martha took out a life insurance policy that would pay $ 2 9 0 , 0 0 0 if her husband George were

Life insurance. Martha took out a life insurance policy that would pay $

290, 000

if her husband George were to die. Martha paid total premiums of $

134, 000

over the years. This year, George died and Martha collected the $

290, 000

proceeds. How much gross income must Martha recognize?

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