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 62 and purchased an annuity for $87,000. The annuity pays $1,000 per month for life. Note: Round exclusion percentage computation to one decimal place. b. Person B is 71 and purchased an annuity for $85,000. The annuity pays $1,200 per month for life. Note: Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places. c. Person C is 64 and purchased an annuity for $45,000 that pays a monthly payment of $800 for 10 years. Note: Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places. (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) TABLE VRDINARY LIFE ANNUITIES ONE LIFEXPECTED RETURN MULTIPLES