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Ryan decided to cancel his $300,000 level-term insurance policy. Which statement is true? A.John has a taxable gain of 10% B.John has a taxable gain
Ryan decided to cancel his $300,000 level-term insurance policy. Which statement is true?
A.John has a taxable gain of 10%
B.John has a taxable gain of $2,500
C.John would have no taxable gain
D.John would only have a taxable gain if he died while the contract was in force
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