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23. Individual I (I), aged 64, was the beneficiary if I's Aunt's life insurance. The insurance payment was $100,000 and I elected to receive the
23. Individual I ("I"), aged 64, was the beneficiary if I's Aunt's life insurance. The insurance payment was $100,000 and I elected to receive the amount as an annuity. Under the Annuity I received $10,000 per year for the rest of I's life. I's life expectance is 25years. How much income does I recognize in years 10, 20 and 30 respectively? a. $4,000 in each year b. $6,000 in each year c. $0 in each year d. $6,000 in year 10, $6,000 in year 20 and $0 in year 30 e. None of a-d is correct
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