Question 20 of 75. On January 1, 2022, Diana, a single taxpayer who was age 70 at the time, began receiving monthly retirement benefits from her former employer's pension plan. She received a total of $50,000 in annuity payments during the year. Her total cost in the plan, as of the annuity starting date, was $40,000. There is no survivor beneficiary. What is the taxable amount of her 2022 annuity income using the simplified method? You may refer to the copy of Worksheet A, Simplified Method from IRS Publication 575 that appears below to complete your calculation. (Answer choices are below the image.) $47,000$47,176$47,714$49,810