Carl is 60 years old. On January 1, 2015, Carl purchased a single life annuity for $70,000. The annuity contract provides Carl with payments of $600 per month for the rest of his life. Payments under the contract began January 1, 2015. How much of the annuity payments are included in income for 2015? (Round the exclusion ratio to four decimal places.)

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The Answer of Carl is 60 years old. On January 1, 2015, Carl purchased a single life annuity for $70,000. The annuity contract provides Carl with payments of $600 per month for the rest of his life. Payments under the contract began January 1, 2015. How much of the annuity payments are included in income for 2015? (Round the exclusion ratio to four decimal places.)

Carl Is 60 Years Old