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When will your incur costs with an Elastic IP address ( EIP ) ? When an EIP is allocated. When it is allocated and associated

When will your incur costs with an Elastic IP address (EIP)?
When an EIP is allocated.
When it is allocated and associated with a running instance
When it is allocated and associated with a stopped instance.
Costs are incurred regardless of whether the EIP is assoclated with a running instance.

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