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Nancy, who is 59 years old, is the beneficiary of a $500,000 insurance policy. A. What amount of the insurance proceeds is taxable if she
Nancy, who is 59 years old, is the beneficiary of a $500,000 insurance policy.
A. What amount of the insurance proceeds is taxable if she receives the proceeds at the rate of $4,000 a month for five years?
B. What amount of the insurance proceeds is taxable if she receives the proceeds in monthly payments of $1,300 over a remaining life expectancy of 25 years?
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