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A taxpayer, age 64, purchases an annuity from an insurance company for $76,000. She is to receive $633 per month for life. Her life expectancy

A taxpayer, age 64, purchases an annuity from an insurance company for $76,000. She is to receive $633 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $7,600 this year, how much is included in her gross income?

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