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Herman retired last year and will receive annuity payments for life from his employer's qualified...

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Accounting

Herman retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year. During his years of employment, Herman contributed $130,000 to the plan. Based on IRS tables, his life expectancy is 260 months. All of the contributions were on a pre-tax basis. This year, Herman will include what amount in income?

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