A taxpayer paid $84,672 for an annuity that pays $1,200 per month for life. Per...
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Accounting
A taxpayer paid $84,672 for an annuity that pays $1,200 per month for life. Per tables provided by the IRS, the taxpayer's remaining life expectancy is 16.8. If she receives 12 payments this year, how much will be taxable?
a) $ 5,040
b) $ 0
c) $14,400
d) $ 9,360
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