Pam retires after 28 years of service with her employer. She is 66 years old and...

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Accounting

Pam retires after 28 years of service with heremployer. She is 66 years old and has contributed $57,750 to heremployer's qualified pension fund. She elects to receive herretirement benefits as an annuity of $5,775 per month for theremainder of her life.
a. Assume that Pamretired in June 2017 and collected six annuity payments that year.What is her income from the annuity payments in the first year?
$
b. Assume that Pamlives 25 years after retiring. What is her income from the annuitypayments in the twenty-fourth year?
$
c. Assume that Pamdies after collecting 160 payments. She collected eight payments inthe year of her death. What are Pam's income and deductions fromthe annuity contract in the year of her death?
Income from the annuity payments:$
Loss deduction: $

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a Assume that Pam retired in June 2017 and collected six annuity payments that year What is her income from the annuity payments in the first year Investment 5775000 Exclusion Per Payment Cost of Investment Number of See Answer

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