Question: Jon bought a $150,000 10-year term annuity using a non-registered savings account. He will receive monthly payments. The annuity is to be treated as a

Jon bought a $150,000 10-year term annuity using a non-registered savings account. He will receive monthly payments. The annuity is to be treated as a prescribed annuity and earns 5% compounded annually. How much tax will Jon pay on EACH monthly payment if the marginal tax rate on interest is 33.5% and the average tax rate is 25%?

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