Required Information

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This year, Janelle received $$160,000$ in life insurance proceeds. Under the following scenarios, hisw much of the $$160,000$ is taxable?

Note: Leave no answer blank. Enter zero If appllcable.

c$.$ The proceeds related to a life insurance policy she purchased for $$24,800$ from a friend in need. After purchase, Janelle paid annual premiums that total $$14,400.$

Answer is complete but not entirely correct.

Taxable amount

$$,0$