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NEW YORK (AP) - Teeny bop sensation New Kids on the Block has knocked Huxtable family TV dad Bill Cosby out of the No. 1 spot on Forbes' list of the world's 40 richest entertainers.

The musical group's projected earnings for 1990 and 1991 will total $115 million, Forbes says.

Cosby's 1990-91 earnings will total about $113 million.

The estimated gross incomes are based on two-year projections because of the lag time between an entertainer's work and the compensation for it.

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This year's survey marks the first time since Forbes began compiling its annual list of top-paid entertainers in 1987 that neither Michael Jackson nor Bill Cosby holds the No. 1 position.

With estimated 1990-91 earnings of $60 million, Jackson ranks fifth this year, down from second. Taking third and fourth place respectively were two female sensations best known by their first names - Oprah and Madonna.

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The Forbes list:

1. New Kids on the Block, pop music group, $115 million; 2. Bill Cosby, 54, television personality, $113 million; 3. Oprah Winfrey, 37, talk-show host, $80 million; 4. Madonna, singer, 33, $63 million; 5. Michael Jackson, 33, singer, $60 million; 6. Kevin Costner, actor-director, 36, $59 million; 7. Johnny Carson, 65, talk-show host, $55 million; 8. Rolling Stones, rock group, $55 million; 9. Charles M. Schulz, 68, cartoonist, $51 million; 10. Steven Spielberg, 43, director-producer, $50 million; 11. Paul McCartney, 49, singer, $49 million; 12. Julio Iglesias, 47, singer, $45 million; 13. Janet Jackson, 26, singer, $43 million; 14. Bruce Willis, 36, actor, $43 million; 15. Eddie Murphy, 30, comedian, $42 million; 16. Tom Cruise, 29, actor, $36 million; 17. Arnold Schwarzenegger, 44, actor, $35 million; 18. Aerosmith, rock group, $34 million; 19. M.C. Hammer, 28, rap music artist, $33 million; 20. The Grateful Dead, rock group, $33 million; 21. Sean Connery, 61, actor, $32 million; 22. Billy Joel, 42, singer, $31 million; 23. Jack Nicholson, 54, actor-director, $30 million; 24. John Hughes, 41, screenwriter, $28 million; 25. Frank Sinatra, 75, singer, $27 million; 26. Michael Douglas, 47, actor, $27 million; 27. Michael J. Fox, 30, actor, $26 million; 28. Guns & Roses, rock group, $25 million; 29. Stephen King, 44, novelist, $25 million; 30. Siegfried & Roy, illusionists, $25 million; 31. Prince, 33, rock star, $25 million; 32. Andrew Lloyd Webber, 43, theater producer, $24 million; 33. Paula Abdul, 29, singer, $24 million; 34. Sylvester Stallone, 45, actor-screenwriter, $23 million; 35. Arsenio Hall, 36, comedian, $23 million; 36. Tom Clancy, 44, author, $20 million; 37. Xuxa, 27, pop singer, $19 million; 38. Mel Gibson, 35, actor, $19 million; 39. Matt Groening, 37, cartoonist, $18 million; 40. Vanilla Ice, 23, pop singer, $18 million.

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