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Taxpayer, a 40-year-old female, purchases an annuity for $1,000,000. The annuity will pay $4,700 per month for the remainder of her life. The expected life

Taxpayer, a 40-year-old female, purchases an annuity for $1,000,000. The annuity will pay $4,700 per month for the remainder of her life. The expected life multiple for Taxpayer is 38.2. How much will Taxpayer properly include in income in the first full calendar year of the annuity

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