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mike purchased an annuity contract for $104,160 on February 28, 20X5. He is to receive $700...

mike purchased an annuity contract for $104,160 on February 28, 20X5. He is to receive $700 per month starting April 1, 20X5, and continuing for life. He has a life expectancy of 20 years. What is the amount of mike annuity income that must be included in his gross income for 20X5? a. $ 2,394 b. $ 3,192 c. $ 3,906 d. $ 5,208 e. None is correct
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receives -7700 in his Answey page: 0 Given mike contract price = $104160 lanowity) life expectancy = 20 years mike per month

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