16. Four years ago, Tito transferred to his son ownership of a $250,000 life insurance...
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16. Four years ago, Tito transferred to his son ownership of a $250,000 life insurance policy that Tito purchased on his own life in 2000. The cash value of the policy on the transfer date was $35,000. Tito died on June 1st of this year. The amount included in Tito's gross estate due to the life insurance policy is
A) $0.
B) $25,000.
C) $35,000.
D) $250,000.
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