COBOL - Special Insertion Editing

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This type of editing is valid for either numeric-edited items or external floating-point items.

The period (.) is the special insertion symbol; it also represents the actual decimal point for alignment purposes.
The period insertion symbol is counted in the size of the item, and represents the position within the item where the actual decimal point is inserted.

Either the actual decimal point or the symbol V as the assumed decimal point, but not both, must be specified in one PICTURE character-string.

For example:

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