1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Eddi Din [679]
3 years ago
12

Problem 2-15 (Algorithmic) Life Insurance (LO 2.8) Sharon transfers to Russ a life insurance policy with a cash surrender value

of $24,800 and a face value of $74,400 in exchange for real estate. Russ continues to pay the premiums on the policy until Sharon dies 7 years later. At that time, Russ has paid $11,160 in premiums, and he collects the $74,400 face value. How much of the proceeds, if any, is taxable to Russ
Business
1 answer:
skelet666 [1.2K]3 years ago
6 0

Answer:

$38,440

Explanation:

Calculation to determine How much of the proceeds, if any, is taxable to Russ

Face value of policy $74,400

Less: Cash Surrender value ($24,800)

Less: Premium paid ($11,160)

Taxable Proceeds $38,440

Therefore the taxable Proceeds are $38,440.

You might be interested in
At the prepurchase stage of the consumer purchase decision process:
olga2289 [7]

Answer:

The correct answer is letter "B": advertising is more effective than personal selling.

Explanation:

The purchase process could be classified in three stages: <em>prepurchase stage, purchase stage, </em>and <em>postpurchase stage</em>. In the prepurchase stage, consumers can use marketing as a source to find out the product or service they are looking for exists. Individual selling might not be as effective since clients without do not have much information at this stage about the brand, where to locate the product and its main features.

3 0
3 years ago
In the multiplex industry, Vibrant Movies Inc. is an upscale multiplex that focuses on superior customer experience. The firm ch
Rudiy27

Answer:

True movies is pursuing an integration strategy.

Explanation:

"Integrated marketing is the process of delivering a consistent and relevant content experience to your audience across all channels. [...] The ultimate goal of integrated marketing is a consistent, customer-centred experience that delivers results for your brand."

Reference: NewsCred. “What Is Integrated Marketing?” Insights, 7 Oct. 2019

5 0
3 years ago
Read 2 more answers
When a mortgage loan with level periodic payments has been completely repaid by the maturity date, it is said to be?
Ira Lisetskai [31]
When a mortgaged loan loan has been completely repaid by maturity date, the loan is said to be fully amortized. For example, you buy a house for $100. The interest on this house is 10% and the mortgage term is 1 year, your mortgage will be repaid in Nov 2018 by paying $9 every month, with a total interest of $5. You repaid the mortgage with interest. Then it is said to be fully amortized.
4 0
3 years ago
Which savings account can a financial institution end?
Elan Coil [88]
Callable Certificate of Deposit is a type of savings account that a financial institution can terminate.
6 0
3 years ago
A survey question that requires a yes or no answer is called a select one:
vaieri [72.5K]
Multiple-choice question
3 0
3 years ago
Read 2 more answers
Other questions:
  • Adel wrote Abdullah, "I will sell you my house and lot at 419 West Lombard Street, San Francisco, California for $950,000 payabl
    10·1 answer
  • What is it called when demand and supply are equal in price and quantity?
    13·1 answer
  • Carter Industries has two divisions: the West Division and the East Division. Information relating to the divisions for the year
    15·1 answer
  • During the year, Bonita Industries made an entry to write off a $33300 uncollectible account. Before this entry was made, the ba
    14·1 answer
  • Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 411,000 Income tax
    5·1 answer
  • Suppose a country that had balanced trade began to run a trade deficit. At the same​ time, consumption as a share of GDP increas
    6·1 answer
  • Jamara has started a home party business that hosts parties and those attending paint signs. Jamara must pay $500 a year to be a
    13·1 answer
  • You decide to become a neurosurgeon. After high school, you will need four years of college, four years of medical school, five
    12·1 answer
  • Question 1 of 10
    7·1 answer
  • What are the major causes of the contemporary plight of ldcs in international trade
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!