Willie purchased a whole life insurance policy on his brother, Benny. Under the policy, the insurance company will pay the named beneficiary $102,500 upon the death of the insured, Benny, Willie names Tess the beneficiary, and upon Benny's death, Tess receives the proceeds of the policy, $102,500. Identify the transfer tax implications of this arrangement. Required: a. At the time of purchase of the policy. b. Upon Benny's death. (For all requirements, leave no answer blank. Enter zero if applicable.) a Taxable gitt made by Willie Taxable gift made by Benny b. Taxable gift made by Willie Taxable gift made by Benny