Determine the tax-free amount of the monthly payment in each of the following instances. Use the life expectancy tables. Use Table I. Table III and Table V Required: a. Person A is age 63 and purchased an annuity for $88,000. The annuity pays $1,000 per month for life. (Round exclusion percentage computation to one decimal place.) b. Person B is 72 and purchased an annuity for $86,000. The annuity pays $1,250 per month for life. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.) c. Person C is 65 and purchased an annuity for $46,000 that pays a monthly payment of $850 for 12 years. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.) Amount a. Tax free portion of payments b. Tax free portion of payments c. Tax free portion of payments