Question 1 O pts Charles purchased an annuity from an insurance company that promised to pay him $20,000 per year for the next 12 years. Charles paid $180,000 for the annuity. How much of the first $20,000 payment should Charles include in gross income? 5000 If Charles' annuity paid him $20,000/year for life, and he is 65, how much should he include in income for the first payment? Round to the nearest dollar. If Charles lives to 105, how much of the last payment he receives will be included in his income? Please do not include $ or commas in your answer. Question 1 O pts Charles purchased an annuity from an insurance company that promised to pay him $20,000 per year for the next 12 years. Charles paid $180,000 for the annuity. How much of the first $20,000 payment should Charles include in gross income? 5000 If Charles' annuity paid him $20,000/year for life, and he is 65, how much should he include in income for the first payment? Round to the nearest dollar. If Charles lives to 105, how much of the last payment he receives will be included in his income? Please do not include $ or commas in your