Question: Ann, Cindy and June are the shareholders in Joy Corporation, a stationery company. Ann owns 40%, Cindy owns 35%, and June owns 25% of the outstanding shares. All three owners are concerned about their respective interests in the corporation should one of them retire, become disabled or die. After careful review of all of their options with competent legal counsel, Ann, Cindy, and June enter into a cross purchase agreement. They also decide to fund this agreement with life insurance. How many life insurance policies must be purchased by each shareholder in order to properly fund this agreement? Question options: a) 3 b) 4 c) 1 d) 2