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jose age 68, retires and receives $1,600 per month from his employer's qualified pension plan. jose...

jose age 68, retires and receives $1,600 per month from his employer's qualified pension plan. jose contributed $84,000. His life expectancy is 18 years. juan would report how much of the payment in income each month? a. $1,600 b. $1,200 c. $ 400 d. $1,211 e. None is correct
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Answer #1

a. $1,600

Amount received per month = $1,600
Contribution made by J = $84,000
Life expectancy = 18 years

There is no interest rate provided. Thus, the J would report $1,600 of the payment in income each month.

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