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Margarita paid a life insurer $100,000 for an immediate life annuity. She will receive $800 per month from the insurer, and her life expectancy is

Margarita paid a life insurer $100,000 for an immediate life annuity. She will receive $800 per month from the insurer, and her life expectancy is 20 years (240 months). What is Margarita's exclusion ratio

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