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Acme published a story about Paul, and as a result Paul sued Acme for damage to his reputation, emotional distress, and punitive damages. Paul won
Acme published a story about Paul, and as a result Paul sued Acme for damage to his reputation, emotional distress, and punitive damages. Paul won an award of $40,000 for damages, $8,550 for emotional distress, and $62,500 for punitive damages. What amount must Paul include in his gross income?
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