In 1992, When Sherry Was 56 Years Old with an Additional

question 28

Multiple Choice

In 1992, when Sherry was 56 years old with an additional life expectancy of 20 years, she purchased a single life annuity for $200,000 that was to pay her $15,000 per year for life starting in 1995. Sherry just received her $15,000 payment for 2018. How much of the $15,000 must Sherry include in income?

• A) 0
• B) $5,000
• C) $10,000
• D) $15,000

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Definitions:

Vietnam War

A prolonged conflict from 1955 to 1975 between communist forces in North Vietnam and non-communist forces in South Vietnam, with significant involvement by the United States.

Soldiers

Members of an army, especially enlisted personnel who serve in land-based military operations.

Impact

The effect or influence of one entity on another, often used to describe the outcome or consequences of actions, policies, or events.

African American Protest

Acts of resistance and demonstrations by African Americans against racial discrimination and injustice throughout U.S. history.