Question: 12. Ten years ago, John purchased a deferred annuity and named his daughter, Suzanne, as beneficiary. Over the years, John invested $50,000 in the

12. Ten years ago, John purchased a deferred annuity and named his

12. Ten years ago, John purchased a deferred annuity and named his daughter, Suzanne, as beneficiary. Over the years, John invested $50,000 in the contract; upon his death, the contract was valued at $118,000. Assuming that John died without annuitizing and the contract contained the standard death benefit provision, how much will Suzanne receive? a. $50,000 b. $68,000 c. $118,000 d. $57,000

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