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Nancy, who is 59 years old, is the beneficiary of a...

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Accounting

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Nancy, who is 59 years old, is the beneficiary of a $200,000 life insurance policy. What amount of the insurance proceeds is taxable under each of the following scenarios? Note: Do not round any intermediate division. Round your final answer to the nearest whole dollar amount. o. She receives the $200,000 proceeds as a lump-sum payment b. She recelves the proceeds at the rate of $4,000 a month for five years. c. She receives the proceeds in monthly payments of $1,300 over her remaining life expectancy (assume she will live 25 years). d. Use the information from (c). If Nancy ives beyond her 25 -year life expectancy, what amount of each monthly payment will be taxable in the 26th year

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