Multiple Choice
Marbella is the beneficiary of a $700,000 insurance policy on her husband's life.Marbella elects to receive $150,000 per year for 5 years rather than receive the entire $700,000 in a lump sum.How much is included in income in the first year.
A) 0
B) $10,000
C) $140,000
D) $150,000
Correct Answer:
Verified
Correct Answer:
Verified
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