Multiple Choice
In 1992, when Sherry was 56 years old with an additional life expectancy of 20 years, she purchased a single life annuity for $200,000 that was to pay her $15,000 per year for life starting in 1995.Sherry just received her $15,000 payment for 2019.How much of the $15,000 must Sherry include in income?
A) 0
B) $5,000
C) $10,000
D) $15,000
Correct Answer:
Verified
Correct Answer:
Verified
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