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2- Sandra purchased a 15 year annuity for $25,000 in 2019. Starting in January, 2020 Sandra will receive $200 per month for 15 years. What

2- Sandra purchased a 15 year annuity for $25,000 in 2019. Starting in January, 2020 Sandra will receive $200 per month for 15 years. What is the amount of the annuity payments that Sandra will receive during 2020 that can be excluded from Sandra's 2020 taxable income? Please explain (show) how you arrived at the answer.

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