On August 16 of the current year, Patrick turns 71. He was a participant in his former employer's profit sharing plan. Assume the following: He does not claim the allowed grace period election and that his profit sharing plan had an account balance of $450,000 on December 31 of the prior year, and $500,000 on December 31 of the current year. According to the uniform lifetime table, the factor for age 70 is 27.4, 71, 26.5 and 72, 25.6. What is the amount of Patrick's required minimum distribution for the year (rounded)? Group of answer choices $0 $16,981 $18,727 $16,423