Mike purchased a whole life policy with a face value of $1,000,000 and dies several years later. At the time of his death, Mike has: paid a total of $12,000 in premiums; accumulated $25,000 in cash value; received a total of $5,000 in policy dividends; and has a $10,000 policy loan outstanding. If Mike's beneficiaries elect to receive a lump-sum distribution of death benefits, how much will it be