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Marlon purchased a qualified annuity costing $13,000 that will pay him $300 per month for life upon reaching age 65. In 2015, Marlon turns 65

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Marlon purchased a qualified annuity costing $13,000 that will pay him $300 per month for life upon reaching age 65. In 2015, Marlon turns 65 and begins receiving the annuity payments. In 2015, Marlon receives $1,800 (6 payments) from the annuity. (a) How much income will Marlon recognize in 2015 as a result of this annuity. Show your calculation. (b) What will happen tax-wise if Marlon lives longer than his projected life expectancy

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