Determine the taxfree amount of the monthly payment in each of the following instances. Use the life expectancy tables. Use Table |, Table III and Table V. Required: a. Person A is age 67 and purchased an annuity for $92,000. The annuity pays $1,600 per month for life. {Round exclusion percentage computation to one decimal place.} b. Person B is 60 and purchased an annuity for $90,000. The annuity pays $1,450 per month for life. {Round exclusion percentage computation to one decimal place. Round your nal answer to 2 decimal places.} c. Person (3 is 69 and purchased an annuity for $50,000 that pays a montth payment of $1,050 for 12 years. {Round exclusion percentage computation to one decimal place. Round your nal answer to 2 decimal places.} a. Tax free portion of payments b. Tax free portion of payments c. Tax tree portion of payments Table I (Single Life Expectancy) (For Use by Beneficiaries) Age Life Expectancy 56 Age 28.7 Life Expectancy 84 57 27.9 3.1 85 58 27.0 7.6 59 86 26.1 7.1 87 60 25.2 6.7 88 61 24.4 6.3 62 89 23.5 5.9 63 90 22.7 5.5 64 91 21.8 5.2 65 92 21.0 4.9 66 93 20.2 4.6 67 94 19.4 4.3 68 95 18.6 4.1 69 96 17.8 3.8 70 97 17.0 3.6 98 71 16.3 3.4 99 72 15.5 3.1 73 100 14.8 2.9 74 101 14.1 2.7 75 102 13.4 2.5 76 103 12.7 2.3 77 104 12.1 2.1 78 105 11.4 1.9 79 106 10.8 1.7 107 80 10.2 1.5 108 81 9.7 1.4 109 82 9.1 1.2 110 83 8.6 1.1 111 and over 1.0Table III (Uniform Lifetime) (For Use by: . Unmarried Owners, . Married Owners Whose Spouses Are Not More Than 10 Years Younger, and . Married Owners Whose Spouses Are Not the Sole Beneficiaries of Their IRAs) Age Distribution Period Age 70 27.4 Distribution Period 93 71 9.6 26.5 94 72 9.1 25.6 95 73 8.6 24.7 96 74 8.1 23.8 97 75 7.6 22.9 98 76 22.0 7.1 99 77 6.7 21.2 100 78 6.3 20.3 101 79 5.9 19.5 102 80 5.5 18.7 103 81 5.2 17.9 104 82 4.9 17.1 105 83 4.5 16.3 106 84 4.2 15.5 107 85 3.9 14.8 108 86 14.1 3.7 109 87 3.4 13.4 110 88 3.1 12.7 111 89 2.9 12.0 112 90 2.6 11.4 113 91 2.4 10.8 114 92 2.1 10.2 115 and over 1.9TABLE ViARDINARY LIFE ANNUITIES ONE LIFEXPECTED RETURN MULTIPLES AGE MULTIPLE AGE MULTIPLE 5 76.6 AGE 42 MULTIPLE 40.6 6 75.6 79 43 10.0 39.6 74.7 80 44 9.5 8 38.7 73.7 81 45 8.9 9 37.7 82 72.7 46 8.4 10 36.8 71.7 83 47 7.9 11 35.9 70.7 84 48 7.4 12 34.9 59.7 85 49 6.9 13 34.0 68.8 86 50 6.5 14 33.1 87 67.8 51 6.1 15 32.2 66.8 52 31.3 5.7 16 65.8 89 53 5.3 17 30.4 90 64.8 54 5.0 18 29.5 63.9 91 55 4.7 19 28.6 62.9 92 56 4.4 20 27.7 61.9 93 57 4.1 21 26.8 60.9 94 58 3.9 22 25.9 59.9 95 59 23 25.0 3.7 59.0 96 60 3.4 24 24.2 58.0 97 61 3.2 25 23.3 57.0 98 62 3.0 26 22.5 56.0 99 63 2.8 27 21.6 55.1 100 64 2.7 20.8 28 54.1 101 65 2.5 29 20.0 53.1 102 66 19.2 2.3 30 52.2 103 67 2.1 31 18.4 104 51.2 68 1.9 32 17.6 50.2 105 69 1.8 33 16.8 49.3 106 70 1.6 34 16.0 48.3 107 71 1.4 35 15.3 47.3 108 72 1.3 36 14.6 46.4 109 73 1.1 37 13.9 45.4 110 74 1.0 38 13.2 44.4 111 75 9 39 12.5 43.5 112 76 .8 40 11.9 42.5 113 77 41 11.2 41.5 114 78 6 10.6 115