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What is the amount of the increase on ms b net income

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Problem 1: On January 1 of the current year, Joanne Barry uses $49000 of her savings to acquire a fixed term annuity. The term of the annuity is 7 years, the annual payments are $16100, and the payments are received on December 31 of each year. What is the amount of the increase on Ms. B's Net Income for Tax Purposes caused by receiving the $16100 annual payment?

Reference no: EM132817878

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