Question: Please explain the correct approach for solving this general accounting question. Lisa retired on January 1 and will receive monthly pension benefits of $2,500 per

Please explain the correct approach for solving this general accounting question.

Lisa retired on January 1 and will receive monthly pension benefits of $2,500 per month. She contributed to her pension plan over the years, and her basis in the plan is $180,000. Her life expectancy based on IRS mortality tables is 15 years. In Year 1, Lisa receives 12 monthly pension checks. How much must Lisa include in her gross income in Year 1

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