28.   LO.2  Determine the gross income of the beneficiaries in the following cases:

a.      Justin’s employer  was downsizing and offered employees an amount equal to  one year’s salary if the employee would voluntarily  retire.

b.     Trina contracted a disease and was unable to work for six months. Because of her dire circumstances, her employer paid her one-half of her regular salary while she was away from work.

c.      Coral Corporation collected $1 million on a key person life insurance policy when its chief executive died. The corporation had paid the premiums on the policy of $77,000, which were not deductible by the corporation.

d.     Juan collected $40,000 on a life insurance policy when his wife, Leona, died in 2014. The insurance policy was provided by Leona’s employer, and the premi- ums were excluded from Leona’s gross income as group term life insurance. In 2015, Juan collected the $3,500 accrued salary owed to Leona at the time of her death.