Problem 11-63 (LO 11-6) Determine the tax-free amount of the monthly payment in each of the following instances. Use the life expectancy tables. Use Table I. Table Ill and Table V. Required: a. Person A is age 64 and purchased an annuity for $100,000. The annuity pays $2,500 per month for life. Note: Round exclusion percentage computation to one decimal place. b. Person B is 68 and purchased an annuity for $98,000. The annuity pays $1,850 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 57 and purchased an annuity for $58,000 that pays a monthly payment of $1,450 for 15 years. Note: Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places. a. Tax free portion of payments b. Tax free portion of payments c. Tax free portion of payments Amount