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Larry purchased an annuity from an insurance company that promises to pay him $220 per month for the rest of his life. Larry purchased the

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Larry purchased an annuity from an insurance company that promises to pay him $220 per month for the rest of his life. Larry purchased the annuity and paid $37,000 for the policy. He is 62 and in good health, and received his first monthly payment on August 1st 2017. How much must Larry include in his 2017 income? 7

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