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April paid $144,000 for an annuity that would immediately pay $1,000 per month. Her life expectancy is 20 years. How much of her annual income
April paid $144,000 for an annuity that would immediately pay $1,000 per month. Her life expectancy is 20 years. How much of her annual income from the annuity will be received tax free? Assume the net cost has not been recovered. Round to the nearest dollar and include the dollar sign and commas in your answer.
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