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Juanita paid a life insurer $105,000 in exchange for an immediate life annuity. Juanita will receive $600 per month from the insurer, and her life

Juanita paid a life insurer $105,000 in exchange for an immediate life annuity. Juanita will receive $600 per month from the insurer, and her life expectancy is 20 years. What is the exclusion ratio in this case . show all work

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