A $350,000 non-registered annuity provides a monthly payment of $1,500 over 20 years. Calculate the capital element of each payment.

a. $1458

b. $1500

c. $1649

d. $1543

Where a $350,000 registered annuity was determined to provide a monthly payment of $1,500 monthly over 20 years, calculate the taxable element of each payment.

a. $1458

b. $1500

c. $42

d. $43