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A taxpayer, age 6 4 , purchases an annuity from an insurance company for $ 6 4 , 0 0 0 . She is to
A taxpayer, age purchases an annuity from an insurance company for $ She is to receive $ per month for life. Her life expectancy is years from the annuity starting date. Assuming that she receives $ this year, how much is included in her gross income?
Round any percentages to two decimal places. Round the final answer for the income to the nearest dollar.
Exclusion percentage: fill in the blank
Included in income: $fill in the blank
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