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  3. a buys an annuity for $50000. over the life of the

A buys an annuity for $50000. Over the life of the annuity, A expects to...

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Accounting

A buys an annuity for $50000. Over the life of the annuity, A expects to earn $10000. In the first year A receives $6000 from the annuity. How much is taxable?

Please show your work, since I would like a detailed explaination. Thanks!

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