Terrance is age $72$ and retired. Beginning in $2023,$ he must start taking minimum distributions from his IRA account that had a balance of $$110,000$ as of December $31,2022.$ Make these three assumptions: his IRA will earn $8\%$ per year based on the annual beginning balance, he will withdraw the minimum distribution on the last day of each calendar year, and only one distribution will be taken in $2023.$

Required:

Calculate the amount of his distribution for years $2023$ through $2027$ and the ending balance in his IRA account on December $31,2027.$ Use Table I, Table III, and Table V$.$

Note: Round "Applicable Life Expectancy" answers to $1$ decimal place and other answers to nearest whole dollar value. Use these answers in subsequent computations.