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Mary Lou took a $7,000 distribution from her educational savings account and used $6,500 to pay for qualified higher education expenses. On the date of
Mary Lou took a $7,000 distribution from her educational savings account and used $6,500 to pay for qualified higher education expenses. On the date of the distribution, her educational savings account had a $28,000 balance including the $21,000 she had contributed. How much of the $7,000 distribution is tax free?
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