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James and Colleen have reached an agreement with Kelsey in which she will give birth to a baby and then give the baby to James and Colleen. In return, James and Colleen will pay Kelsey $40,000 cash and pay for her medical expenses. What tax issues should Kelsey consider?
Annual Rate
The interest rate for a loan or investment over the span of one year.
Simple Interest
Interest calculated only on the principal amount, not on the interest accrued.
Invested
The maneuver of allocating finances with the aspiration of earning income or profit.
Term
The time period for which a loan or investment is made.
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