QUESTIONS Over the years Rianna paid $65.000 in premiums on a life insurance policy with a face value of 5100,000. Upon reaching 65, while still in good health, Ranna surrendered the policy and collected 595,000. In the year of collection, Rianna will report $30,000 of taxable income. $5,000 of tax loss. 395,000 of taxable income no income