Determine the tax-free 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 66 and purchased an annuity for $91,000. The annuity pays $2,000 per month for life. (Round exclusion percentage computation to one decimal place.) b. Person B is 75 and purchased an annuity for $89,000. The annuity pays $1,400 per month for life. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.) c. Person C is 68 and purchased an annuity for $49,000 that pays a monthly payment of $1,000 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 Life Expectancy 8.1 7.6 7.1 6.7 6.3 5.9 5.5 5.2 4.9 Age 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 Table I (Single Life Expectancy) (For Use by Beneficiaries) Life Expectancy Age 28.7 84 279 85 27.0 86 26.1 87 25.2 88 24.4 89 23.5 90 22.7 91 21.8 92 21.0 93 20.2 94 19.4 95 18.6 96 17.8 97 17.0 98 16.3 99 15.5 100 14.8 101 14.1 102 13.4 103 12.7 104 12.1 105 11.4 106 10.8 107 10.2 108 9.7 109 9.1 110 8.6 111 and over 1.6 4.3 4.1 3.8 3.6 3.4 31 2.9 2.7 215 2.3 2.1 19 1.7 1.5 1.4 1.2 1.1 1.0 Table 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 70 71 72 73 Distribution Period 9.6 91 8.6 8.1 76 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 Distribution Period 27.4 26.5 25.6 24.7 23.8 22.9 22.0 212 20.3. 19.5 18.7 17.9 17.1 16.3 15.5 14.8 14.1 134 12.7 12.0 11.4. 10.8 10.2 Age 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 and over 6.7 6.3 5.9 5.5 5.2 4.9 4.5 4.2 3.9 3.7 3.4 3.1 2.9 2.6 2.4 2.1 1.9 AGE 5 6 7 8 9 10 MULTIPLE 10.0 9.5 8.9 8.4 7.9 7.4 6.9 72.7 6.5 6.1 53 5.0 4.1 57 TABLE VERDINARY LIFE ANNUITIES ONE LIFEXPECTED RETURN MULTIPLES MULTIPLE AGE MULTIPLE AGE 76.6 42 40.6 79 75.6 43 39.6 80 74.7 38.7 81 73.7 45 37.7 82 46 36.8 83 71.7 47 35.9 84 70.7. 48 34.9 85 69.7 49 34.0 86 68.8 50 33.1 87 67.8 51 32.2 SS 66.8 52 313 89 65.8 53 30.4 90 64.8 54 29.5 91 63.9 55 28.6 92 629 56 27.7 93 619 26.8 94 60.9 58 25.9 95 59.9 59 25.0 96 59.0 60 97 58.0 61 23.3 98 57.0 62 22.5 99 56.0 63 21.6 55.1 64 20.8 101 54.1 65 20.0 102 53.1 66 103 52.2 67 18.4 104 51.2 68 17.6 105 50.2 69 16.8 106 49.3 70 16.0 107 48.3 71 15.3 108 47.3 72 14.6 109 46.4 73 110 45.4 74 13.2 111 44.4 75 12.5 112 43.5 11.9 113 42.5 77 11.2 114 41.5 78 10.6 115 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 24.2 100 1. 19.2 39 3.7 3.4 3.2 3.0 2.8 217 2.5 2.3 2.1 1.9 1.8 1.6 1.4 1.3 1.1 1.0 9 .8 .7 .6 .5 Jaco volan 13.9 n 76