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This is not perfect for reasons others have explained. You may be able to improve the formula by using a date of %date(1998-01-01) if you are sure that every record you have is for people born before January, 1998 (driver license applicants, for example.) That example gives you ages of 7 to 107 years old, which may be enough for your purposes.
(whispering to Booth) Psst... Jan 1998 was 8 years ago, not 7.
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