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If a scholarship does not satisfy the requirements for a gift, the scholarship must be included in gross income.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
Market Rate
The prevailing price or interest rate in the market for goods, services, or securities.
Interest
The payment made for the use of (borrowed) money.
Total Fertility Rate
The average number of children a woman is expected to have during her lifetime in a specific population.
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