Complete the table. 1. IRA Fair Market Value Amount Withdrawn at Age 55 Penalty for Early Withdrawal Age $260,000 $50,000 $5,000 73 Required Minimum Distribution Penalty If Not Withdrawn b. a. $546,000 $35,000 $3,500 72 a. b. $186,400 $10,000 a. 74 b. C $418,680 $35,000 a. 80 b. C $328,840 -0- a. 77 b. C $284,348 $23,780 a. 71 b. C Complete the problem. 2. Nora Beck is 80 and has an IRA with a fair market value of $350,000. a) Use the Uniform Life Table on p. 47 to determine her required minimum distribution. b) What penalty would she incur if she failed to take the distribution? c) What penalty would she incur if she had made an early withdrawal of $20,000 to pay for her grandchild's college education