12 George purchased a life annuity for $5,200 that will provide him $80 monthly payments for as long as he lives. Based on IRS tables, George's life expectancy is 100 months. How much of the first $80 payment will George exclude from his gross income? OA $72 B. $52. OC. $80 OD. $32 OE. 548 A self-employed dermatologist that lives in Texas and has incurred the following reasonable expenses: $1,000 in airfare to repair investment rental property in California. $500 in meals while attending a medical convention in Denver. $300 for tuition for an investment seminar "How to pick stocks." $100 for tickets to a baseball game with hospital administrators to celebrate successful negotiation of a surgical contract earlier in the day. How much can he deduct? OA. $1,250 "for AGI" B. None of the choices are correct. OC. $1,300 "for AGI" and $300 "from AGI" OD. $480 "for AGI" E. $80 "for AGI" and $1,300 "from AGI