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Hank retired last year after investing $100,00 in an annuity, which pays $12,000 per year. Hank had a life expectancy of 10 years at the annuity starting date. What is Hank's income for the current year, assuming Hank receives $12,000 during the current year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991947

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