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Tim has worked for one employer his entire career. While he was working, he participated in the employers defined contribution plan [traditional 401(k)]. At the

Tim has worked for one employer his entire career. While he was working, he participated in the employers defined contribution plan [traditional 401(k)]. At the end of 2020, Tim retires. The balance in his defined contribution plan is $2,000,000 at the end of 2019. (Use Exhibit 13-3.) (Leave no answer blank. Enter zero if applicable.)

EXHIBIT 13-3 Abbreviated Uniform Lifetime Table

Age of Participant Distribution Period Applicable Percentage*
70 27.4 3.65%
71 26.5 3.77
72 25.6 3.91
73 24.7 4.05
74 23.8 4.20
75 22.9 4.37
76 22.0 4.54
77 21.2 4.72

*The applicable percentage is calculated by dividing 1 by the relevant distribution period. Source: See Reg. 1.401(a)(9)-9.

a. What is Tims required minimum distribution for 2020 that must be distributed in 2021 if he is 68 years old at the end of 2020?

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