Question 23 Not yet answered Points out of 2.00 P Flag question Hugh purchased a life annuity for $32,000 that will provide him monthly payments of $800 for as long as he lives. Based on IRS tables, Hugh's life expectancy is 100 months. What amount of the first $800 payment will Hugh include in his gross income? Select one: O A. $800 O B. $320 O C. $720 O D. $480 9

Notyet answered Pointsout of 200 Y. Hag ojjestion Hugh purchased a life annuity for $32,000 that will provide him monthly payments of $800 for as long as he lives. Based on IRS tables, Hugh's life expectancy is 100 months. What amount of the first $800 payment will Hugh include in his gross income? Select one: A. $800 B. $320 C. $720 D. $480