Your fourth client is the child of a recently deceased manufacturing sales rep. She is 35 years
Fantastic news! We've Found the answer you've been seeking!
Question:
Your fourth client is the child of a recently deceased manufacturing sales rep. She is 35 years old (in the year following her dad's death). When she inherited the IRA, it was worth $201,306.56, but the value at the end of the year of death was $182,678. Her father was 57 when he passed away. What is this client's RMD amount?
Transcribed Image Text:
Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO Table I (Single Life Expectancy) (For Use by Beneficlarles) Age Life Expectancy Age Life Expectancy 82.4 28 55.3 54.3 81.6 29 80.6 30 53.3 79.7 78.7 31 32 52.4 4. 51.4 77.7 33 50.4 76.7 34 49.4 75.8 35 48.5 8. 74.8 36 47.5 73.8 37 46.5 72.8 71.8 38 45.6 11 39 44.6 12 70.8 40 43.6 13 69.9 41 42.7 14 68.9 42 41.7 15 67.9 43 40.7 16 66.9 44 39.8 17 66.0 45 38.8 18 65.0 46 37.9 19 64.0 47 37.0 20 63.0 48 36.0 35.1 34.2 21 62.1 49 22 61.1 50 23 60.1 51 33.3 24 59.1 52 32.3 25 58.2 53 31.4 1123 567oaO
Expert Answer:
Answer rating: 100% (QA)
What Is a Required Minimum Distribution RMD A required minimum distribution RMD is the amount of money that must be withdrawn from an employersponsored retirement plan traditional IRA SEP or SIMPLE in... View the full answer
Related Book For
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
Posted Date:
Students also viewed these accounting questions
-
The teenage daughter of a recently deceased movie star inherited a number of items from her famous fathers estate. Rather than convert these assets to cash immediately, her financial advisor has...
-
Using the (same) graphs of the two water districts on the next page, calculate the combined total revenue loss from a combined water delivery cutback of 48,000 AF allocated equally between Water...
-
A child on vacation wakes up. She is lying on her back. The tension in the muscles on both sides of her neck is 55.0 N as she raises her head to look past her toes and out the motel window. Finally...
-
The following is a symbolic microprogram for an instruction in the computer defined in Sec. 7-3. a. Specify the operation performed when the instruction is executed. b. Convert the four...
-
At the end of the fiscal year, the Precision Computer Centre has a $21,620 balance in Accounts Receivable. Here is a current schedule of accounts receivable: Precision Computer Centre Schedule of...
-
Discuss the ratios computed for Tyler Company in problems 13 through 16. What is your assessment of the performance and future potential of Tyler Company? Data From Problem 13:- The following reserve...
-
The polymer matrix material in a linear viscoelastic, unidirectional composite material has a relaxation modulus that can be characterized by the Maxwell model in Figure 8.8. The fibers are assumed...
-
Prepare General Journal entries to record the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; example, record the...
-
The company has just announced the EPS for last year was $1.4. The company maintains a dividend payout ratio of 0.75. Assume the company's cost of equity is 12%, and dividends are expected to grow at...
-
Assume that you have the following edge-weighted graph. Find the minimum spanning trees using Seattle 11 (1) SF LA Seattle SF 17 LA Las Vegas 20 Las Vegas 14 Denver 15 Alince 5 apalis 10 12 Delles...
-
The figure (Figure 1) shows voltage and current graphs for a resistor. Figure 1 VR 10 V 0+ of 1 0.00 s -10 V- Voltage Current 0.02 s R -0.50 A -0 0.04 s --0.50 A Draw the resistor's voltage and...
-
Many people have claimed that there is no good for which substitutes are not available. If so, does this mean there is no such thing as monopoly?
-
Dogs Ignore an Unreliable Person A study investigated whether dogs change their behavior depending on whether a person displays reliable or unreliable behavior. Dogs were shown two containers, one...
-
Why is it necessary for the seller to be able to keep customers from reselling the product in order for price discrimination to occur? There are many products for which you get a discount for...
-
Effect of Organic Soybeans after 8 Days After 8 days, the proportion of fruit flies eating organic soybeans still alive is 0.79 , while the proportion still alive eating conventional soybeans is 0.32...
-
Price discrimination is practiced by movie theaters, motels, golf courses, drugstores, and universities. Are they monopolies? If not, how can they carry out price discrimination?
-
Rod says that he is thinking of a one variable exponential or logarithmic equation that has the following characteristics: a. has solutions x = 1 and x = 2 b. does not contain the digit "3" c....
-
What are the six activities involved in the physical supply/distribution system?
-
Identify a consumer electronics product that you want to purchase (e.g., a TV, digital camera, tablet computer, and so on). Identify at least three models of this product that you would consider...
-
Virginia Tech operates its own power generating plant. The electricity generated by this plant supplies power to the university and to local businesses and residences in the Blacksburg area. The...
-
Marissa Jones is the president and CEO of Sound's Alive, a company that manufactures and sells a line of speakers, CD players, receivers, high-definition televisions, and other items geared for the...
-
The data of Exercise 15.8 may be looked upon as evidence that the standard of \(3 \%\) unusable bearings is being exceeded. (a) Use the data from Exercise 15.8 to construct new control limits for the...
-
Thirty-five consecutive samples of 100 bearings each, taken from a factory, had, respectively, 1, 2, 5, 3, 4, 2, 6, 8, 1, 2, 3, 9, 8, 0, 12, 10, 5, 4, 1, 8, 6, 7, 9, 4, 8, 1, 2, 6, 7, 5, 8, 1, 3, 4...
-
In a random sample of 50 electrodes, the mean diameter was \(0.4 \mathrm{~cm}\), and the standard deviation was \(0.005 \mathrm{~cm}\). (a) Between what limits can it be said with \(99 \%\)...
Study smarter with the SolutionInn App