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You pay $ 9 , 0 0 0 for an annuity The annuity will pay $ 1 , 0 0 0 for 1 2 years

You pay $ 9,000 for an annuity The annuity will pay $1,000 for 12 years . How much of the annuity cash payments will be considered taxable income ? $1,000 $ 250 $750

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