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Connor and Jordan received 12 payments of $500 this year from an annuity they purchased several years ago. Payments began when Connor turned 65. The

Connor and Jordan received 12 payments of $500 this year from an annuity they purchased several years ago. Payments began when Connor turned 65. The annuity cost $25,000. When Connor dies, Jordan will receive the same monthly payment until Jordan's death. Use the simplified method to calculate taxability of the annuity payments received

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