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Which of the following is true concerning a private annuity? a) An annuity amount may not be determined using fair market value of the property.

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Which of the following is true concerning a private annuity? a) An annuity amount may not be determined using fair market value of the property. b) Upon the death of the transferor, the transferee's basis is equal to the value of the annuity payments made to the transferor. c) Upon the death of the transferor, the present value of the unpaid annuity will be included in the transferor's estate. d) A premium must be applied to the annuity payment

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