Please answer 12 and 13. Thank you!

4) 1 and 2 Question 12 (1 point) Distributions prior to age 50% are generally subject to the early withdrawal penalty. However, there is an exception for substantially equal periodic payments. Which of the following is correct? 1) Substantially equal periodic payments must continue for at least five years. 2) Each of the three methods will produce a payment that is similar in terms of 3) Taxpayers are not permitted to change from one method of calculating 4 Each of the three methods to calculate the payment results in a payment the amount of the payment. substantially equal periodic payments to another method. that remains constant for the term of the substantially equal periodic payments Question 13 (1 point) Ivan is financially broke after spending all of his family's money on fantasy football bets. Ivan feels that using a 401(k) loan is very smart (which it is not) to pay off the debt. Ivan has provided you with the following information: - Ivan's account balance in his employer-sponsored qualified profit-sharing plan is $80,000 DOLL Question 13 (1 point) lvan is financially broke after spending all of his family's money on fantasy football bets. Ivan feels that using a 401 (k) loan is very smart (which it is not) to pay off the debt. Ivan has provided you with the following information: - Ivan's account balance in his employer-sponsored qualified profit-sharing plan is $80,000 - Ivan is age 23 and is married to a much older woman that plants flowers for a living. -Ivan is 60% vested in his account balance and his investments allocation is very aggressive - Ivan already has one loan with the company's qualified plan. He used the loan money for a bet that he placed on a burnt orange football team three months ago. The outcome of the bet didn't favor Ivan and the remaining balance of that terrible decision is $5,000. DALL Which of the following statements is/are correct? 1. Ivan should not use a 401(k) loan to pay off debt.. .he might have a gambling problem. 2. Ivan has maxed out his loan amount under PPA 2006 401(A) 3. Ivan can borrow an additional $19,000. 4. Ivan can borrow another $32,000. 1) 1 Only 2) Both 1 and 2 3) Both 1 and 3 4) Both 1 and 4 Question 14 (1 point) DOLL