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Tim has worked for one employer his entire career. While he was working, he participated...

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Accounting

Tim has worked for one employer his entire career. While he was working, he participated in the employer's defined contribution plan [traditional 401(k)]. At the end of 2023, Tim retires. The balance in his defined contribution plan at the end of 2022 was $2,000,000.(Use Exhibit 13-3.)
Note: Leave no answers blank. Enter zero if applicable.
Problem 13-57 Part b (Static)
Required:
b-1. What is Tim's required minimum distribution for 2023 if he turns 73 during 2023?
b-2. When must he receive this distribution?

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