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George purchased a life annuity for $2,000 that will provide him $50 monthly payments for as long as he lives. Based on IRS tables, George's

George purchased a life annuity for $2,000 that will provide him $50 monthly payments for as long as he lives. Based on IRS tables, George's life expectancy is 100 months. How much of the first $50 payment will George include in his gross income?

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