Ron has a 1000000 annuity policy inside his ira he will, Financial Management

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Ron has a 1000000 annuity policy inside his ira he will

Ron has a $1,000,000 annuity policy inside his IRA. He will receive $65,000 a year from his annuity to fund his retirement. His life expectancy is 20 years.

a. What is his exclusion ratio?

b. How much of the payment (in dollars) is excluded from tax?

c. How much of the payment (in dollars) is taxable?

d. How much will he owe in taxes after her first payment is she is in the 25% tax bracket?

e. How much will he owe in taxes on the 21st payment?

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