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35. A purchased a life annuity for P1,000,000 which will pay him P100,000 a year. The life expectancy of A is 12 years. Which of

35. A purchased a life annuity for P1,000,000 which will pay him P100,000 a year. The life expectancy of A is 12 years. Which of the following will A be able to exclude from his income? a. P1,000,000 b. P1,200,000 c. P200,000 (1. P100, 000

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