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Your mother purchased a $200,000 life insurance policy many years ago. Over the life of the...

Your mother purchased a $200,000 life insurance policy many years ago. Over the life of the plan she pays $50,000 in premiums. She dies in the current year and you are approached by the company to take either $25,000 for 10 years or a cash value of $170,000. How are your taxes affected in the current year if you choose the annual plan?

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