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Lucia, who is 69 years of age pays 164,505.60 to purchase an annuity that will pay her 1,200 per month for the rest of her

Lucia, who is 69 years of age pays 164,505.60 to purchase an annuity that will pay her 1,200 per month for the rest of her life. Determine the amount of the first monthly payment that Lucia must include in her gross income

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