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Marcel has a whole life insurance policy with a face value of $75,000, a cash surrender value of $38,860, and an adjusted cost basis of
Marcel has a whole life insurance policy with a face value of $75,000, a cash surrender value of $38,860, and an adjusted cost basis of $21,654. His annual premium of $3,655 is due March 10. If Marcel makes no more premium payments, when will his policy lapse?
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Concepts In Federal Taxation
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
19th Edition
978-0324379556, 324379552, 978-1111579876
