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Tracy owns a whole life insurance policy which she decided to surrender as she is unable to pay the premiums. Upon surrendering the policy, she

Tracy owns a whole life insurance policy which she decided to surrender as she is unable to pay the premiums. Upon surrendering the policy, she receives $52,000 in insurance proceeds which includes an ACB of $30,000. How much of the resulting policy gain will be taxed? WHd2MGpCcDJZcHRVN3RZVK#TEVwQT09 a O $18,700 b. $26,000 c. $30,000 d. $22,000

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