Mark Is Single and Must Start Taking Distributions from His

question 113

Multiple Choice

Mark is single and must start taking distributions from his traditional IRA beginning April 1,2017.At the end of 2016 when Mark was 71 years old,the IRA had a balance of $110,000.What amount must Mark take as a distribution from the IRA by April 1,2017?

• A)$4,151.
• B)$4,297.
• C)$6,748.
• D)$7,190.

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Definitions:

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer due to their similarities in function or utility.

Oligopoly

A market structure in which a few firms dominate, leading to limited competition and potentially higher prices and levels of cooperation.

Product Life Cycle

The stages a product goes through from development and introduction to the market, growth in sales, maturity, and eventual decline.

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs, allowing for more targeted marketing strategies.