A public college was the recipient of an annuity gift. The elderly alumnus donated cash of $110,000 and investments of $610,000 with the restriction that the college pays them a sum of $50,000 per year for five years. If the annuity payable has been actuarially valued at $305,000, the college should report revenues upon receipt of the gift in the amount of

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The Answer of A public college was the recipient of an annuity gift. The elderly alumnus donated cash of $110,000 and investments of $610,000 with the restriction that the college pays them a sum of $50,000 per year for five years. If the annuity payable has been actuarially valued at $305,000, the college should report revenues upon receipt of the gift in the amount of

A Public College Was the Recipient of an Annuity Gift