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TABLE I Determine the tax - free amount of the monthly payment in each of the following instances. Use the life expectancy tables. Use Table

TABLE I Determine the tax-free amount of the monthly payment in each of the following instances. Use the life expectancy tables. Use Table I,
Table III and Table V.
Required:
a. Person A is age 63 and purchased an annuity for $99,000. The annuity pays $2,000 per month for life.
Note: Round exclusion percentage computation to one decimal place.
b. Person B is 67 and purchased an annuity for $97,000. The annuity pays $1,800 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 56 and purchased an annuity for $57,000 that pays a monthly payment of $1,400 for 15 years.
Note: Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.
Table 5 Table 3
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