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Listen Donna, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of her deceased husband in 10 installments

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Listen Donna, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of her deceased husband in 10 installments of $17.500 each. Her husband had paid premiums of $60,000 on the policy. In the first year, Donna collected $17,500 from the insurance company. She must include in income: $2500 $0 $25,000 $10,000

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