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Rick and Lucy were divorced seven years ago. The divorce decree states that Rick must pay Lucy $500 in cash per month and pay the

Rick and Lucy were divorced seven years ago. The divorce decree states that Rick must pay Lucy $500 in cash per month and pay the insurance company $2,000 annually on premiums for insurance on his own life. Lucy owns half that life insurance policy. What amount of these payments can Rick deduct as alimony paid?

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