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Self-Study Problem 2.8 On March 19, 2013, Karen dies and leaves Larry an insurance policy with a face value of $100,000. Kare
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Answer : Interest income will be treated Larry's for current year. because Larry continued the proceed over 10 years therefore

Interest income will be = Money received from Insurance company - $10000(given)

=$13250 - $10000= $3250

Answer :- Larry report the income for current year =$3250

Note: If you have any doubt please ask ,Thanks. ?

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