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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
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:
- Person A is age 60 and purchased an annuity for $96,000. The annuity pays $2,000 per month for life. (Round exclusion percentage computation to one decimal place.)
- Person B is 64 and purchased an annuity for $94,000. The annuity pays $1,650 per month for life. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.)
- Person C is 53 and purchased an annuity for $54,000 that pays a monthly payment of $1,250 for 15 years. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.)
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Environmental Health And Safety Audits
Authors: Lawrence B. Cahill, Raymond W. Kane
9th Edition
1605907081, 9781605907086
