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AnnyKZ [126]
3 years ago
5

A taxpayer, age 64, purchases an annuity from an insurance company for $62,000. She is to receive $517 per month for life. Her l

ife expectancy is 20.8 years from the annuity starting date. Assuming that she receives $6,200 this year, what is the exclusion percentage, and how much is included in her gross income?
Business
1 answer:
Ber [7]3 years ago
5 0

Answer:

$3,220.90

Explanation:

Expected Return = $517 * 12 months * 20.8 years

Expected Return = $129,043.20

Exclusion Percentage = $62,000/ $129,043.20

Exclusion Percentage = 0.4804593

Exclusion Percentage = 48.05%

Exclusion amount = $6,200 * 48.05%

Exclusion amount = $2,979.1

Amount included in Income = $6,200 - $2,979.1

Amount included in Income = $3,220.90

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The annual payment is an annuity so the present value can be calculated by:

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klasskru [66]

Answer:

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An intermediate good produces a final good for consumption.  Intermediate goods are used for investment to generate more resources that can be consumed in the future.  A final good, in most cases, does not require further processing.  It is consumed immediately by the buyer.

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A zone transfer utilizes the Transmission Control Protocol (TCP) for transport, and appears as a client– server exchange. The customer asking for a zone exchange might be a slave server or optional server, asking for information from an ace server, in some cases called an essential server. The part of the database that is duplicated is a zone.


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Answer:

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