Ray and carin are parents in an accounting firm. the partners have entered into an arm’s length agreement requiring ray to purchase carin’s partnership interest from carin’s estate if she dies before ray. the price is set at 120% of the book value of carin’s partnership interest at the time of her death. ray purchased an insurance policy on carin’s life to fund this agreement. after ray had paid $45,000 in premiums, carin was killed in an automobile accident, and ray collected $800, of life insurance proceeds. ray used to life insurance proceeds to purchase carin’s partnership interest. what amount should ray include in his gross income from receiving the life insurance proceeds?

$527.7.if the following was the question  $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?