1. Robin Blake asked what she should do to file her taxes. She calculated $18,500 in Itemized Deductions in a year where the Standard Deduction was $12,400. What should she claim on her tax return?

Group of answer choices

$12,400 Standard Deduction because this is less likely to be audited.

$18,500 in Itemized Deductions.

$6,100 in Itemized Deductions ($18,500 - $12,400).

None of the above.

2. Mr. Smith purchased a $250,000 Whole Life Insurance Policy on his own life, with his wife as the Beneficiary, on August 1, 2019. The monthly premiums were $300 per month and have been paid as agreed. On July 29, 2020, Mr. Smith took his own life. What, if anything, will Mrs. Smith receive as the Beneficiary?

Group of answer choices

$0.

$3,600.

$3,600 plus interest.

$250,000