Question
On January 1, 2021, Mr. Rick Wormald transfers all of his RRSP funds into an RRIF. Mr. Wormald is 60 years old on that date.
On January 1, 2021, Mr. Rick Wormald transfers all of his RRSP funds into an RRIF. Mr. Wormald is 60 years old on that date. The fair market value of these assets on January 1, 2022 is $515000. The corresponding figure on January 1, 2022 is $580000. What is the minimum withdrawal that Mr. Wormald must make from the RRIF during 2022? Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.
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Auditing And Assurance A Case Studies Approach
Authors: LexisNexis
7th Edition
0409343943, 978-0409343946
