Emil Nelson paid $174,500 for an annuity that will pay him $1,300 per month for life.Based on Emil's age,his expected return is $405,813.This year,Emil received 12 payments totaling $15,600.How much of this total is taxable income?

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The Answer of Emil Nelson paid $174,500 for an annuity that will pay him $1,300 per month for life.Based on Emil's age,his expected return is $405,813.This year,Emil received 12 payments totaling $15,600.How much of this total is taxable income?

Emil Nelson Paid $174,500 for an Annuity That Will Pay