Question: question 4 and 5 John Arnott: Attempt 1 Question 4 (1 point) Peter turned 73 in 2020. His Profit Sharing plan account balance was $500,000

question 4 and 5 question 4 and 5 John Arnott: Attempt 1 Question 4 (1 point)

John Arnott: Attempt 1 Question 4 (1 point) Peter turned 73 in 2020. His Profit Sharing plan account balance was $500,000 on December 31st, 2019. His beneficiary is his wife Mary, who is age 70. Assuming the Uniform Life Expectancy Factors are 25.6 for a 72 yr old, and 24.7 for a 73 yr old, what is Peter's 2020 Required Minimum Distribution (rounded to the nearest dollar)? $20,243 $19,531 $18,868 $18,248 Question 5 (1 point) What is the excise tax on a Required Minimum Distribution (RMD) amount that should have been distributed from a retirement plan but was not

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