Which of the following is a true statement about travel that has both business and personal aspects?

A. Only half of the cost of meals and transportation is deductible.

B. Transportation costs are always fully deductible.

C. None of the choices are correct.

D. The cost of lodging and incidental expenditures is limited to those incurred during the business portion of the travel.

E. Meals are not deductible for this type of travel.

George purchased a life annuity for $5,600 that will provide him $128 monthly payments for as long as he lives. Based on IRS tables, George's life expectancy is 100 months. How much of the first $128 payment will George include in his gross income?

A. $32

B. $72

C. $48

D. $128

E. $56.