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24) Hunter retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year.

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24) Hunter retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year. During his years of employment, Hunter contributed $130,000 to the plan on a pre-tax basis. Based on IRS tables, his life expectancy is 260 months. All of the contributions were on a pre-tax basis. This year, Hunter will include what amount in income? A) $6,000 B) $0 C) $24,000 D) $30,000 25) Christa has made a $25,000 pledge to the American Red Cross (a public charity). Christa expects AGI of $200,000 this year. Which of the following assets should she donate? A) stock purchased three years ago for $18,000 with a current FMV of $25,000 B) stock purchased six months ago for $28,000 with a current FMV of $25,000 C) $25,000 of cash D) Christa should be indifferent among the three choices

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