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Question $2$

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Patrick Mahomes, who is $72$ years old, purchased an annuity that promises to pay him $$6,000$ per month for the rest of his life. Patrick paid $$630,720$ for the annuity. Patrick received the first annuity payment of $$6,000$ this month. Use the expected number of payments in Exhibit $5-1$ for this problem.

Question $2$a

a$.$ How much of the first payment should Patrick include in gross income?

Amount to be included in gross income