When an insured dies with an incident of ownership in a life insurance contract:
A) the face amount is included in the gross estate
B) the face amount is not taxed at all due to a loophole in estate tax laws
C) only the cash value at death is included in the estate
D) only is taxed due to the spouse's assumed half ownership
A
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A. $17,337.72. B. $9000.00. C. $16,500.00. D. $8668.86. E. $8250.00.
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