Damian Is Age 77

question 104

Multiple Choice

Damian is age 77.He paid $600,000 for a single life annuity contract that will pay him $72,000 per year for life.The tax-free amount of the first $72,000 payment is

• A)$18,429.
• B)$28,302.
• C)$49,587.
• D)$53,571.

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Definitions:

Connector

A device used to join electrical terminations and create an electrical circuit; connectors come in various sizes and shapes for different purposes.

Input Devices

Input devices are peripherals used to provide data and control signals to a computer, such as keyboards, mice, and scanners.

Digitizer

A device or software that converts analog information into digital form, often used in the context of touchscreens and drawing tablets to interpret touch or stylus input.