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?
A. $0
B. $6,708
C. $5,300
D. None of the above.
Answer: D
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