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Mark Is Single and Must Start Taking Distributions from His

question 113

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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?

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Definitions:

Individualism

A theory supporting the idea that individuals should have more personal freedom rather than being controlled by the state or a group.

Social Class

The social structural hierarchical position groups hold relative to the economic, social, political, and cultural resources of society.

Alexis De Tocqueville

A French political thinker and historian best known for his works "Democracy in America," in which he analyzed the improved living standards and social conditions of individuals, as well as the influence of the democratic way of life.

Alexis De Tocqueville

A French political thinker and historian best known for his works "Democracy in America," exploring American society, politics, and culture.

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