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. Nick is 57 years old. He receives an annuity distribution of $800 per month for life from a qualified retirement plan from his former

. Nick is 57 years old. He receives an annuity distribution of $800 per month for life from a qualified retirement plan from his former employer. The annuity began in January 2020. His investment in the contract was $100,000. What is the amount of Nicks taxable income from this annuity contract for 2021? Show your work.

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