"phyllis paid $25,000 for her universal life insurance policy and is planning to surrender it. what amount of cash would she receive if she surrendered her policy when it has a cash value of $28,000, an outstanding loan of $12,000, and an applicable surrender charge of $3,000? "

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output.c. effective capacity equals design capacity.d. effective capacity is less than design capacity.e. expected output is less than rated capacity.