One of your clients wants to fund a buy-sell agreement with life insurance for his corporation. There are a total of five stockholders. Each stockholder is an equal owner. He is considering a stock redemption plan. Which one of the following statements best describes the stock redemption plan for a corporation? O The corporation purchases a separate life insurance policy on all stockholder and the corporation owns, pays, and is the beneficiary of a life insurance policy on each stockholder. O Each stockholder purchases a separate life insurance policy on the other stockholders and the corporation owns, pays, and is the beneficiary of the life insurance policies. The corporation purchases a separate life insurance policy on each stockholder and each stockholder is a co-owner, pays, and is the co-beneficiary of the life insurance policy on the other stockholders. O Each stockholder purchases a separate life insurance policy on the other stockholders and each stockholder owns, pays, and is the beneficiary of a l