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Mary, age 67, purchased an annuity that pays her $500 per month for the rest of her life. She paid $70,000 for the annuity with

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Mary, age 67, purchased an annuity that pays her $500 per month for the rest of her life. She paid $70,000 for the annuity with post tax dollars. Based on the IRS simplified annuity tables, How much of each $500 payment will Mary have to include in her gross income for each payment she receives? Rounded to nearest cent? 5333 33 5166.67 O $500.00 O None, it was purchased with post tax dollars. Bill, single, receives $8,500 in wages from a part time job, $11,500 from unemployment benefits during the Covid crisis, and $27,000 in social security benefits in 2020. Compute is adjusted gross income for 2020 $8.500 519,500 524,250 O $33,500

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