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Business, 23.01.2020 21:31 lifeisbowling59

At age 50, charles began receiving payments under a distribution method that provides for substantially equal payments over his life. he had no basis in the account. at age 58, after he received distributions totaling $14,000, he elected to receive the remaining benefits in a lump-sum of $155,000. what amount of the total distribution is subject to the early distribution penalty?

1) $0
2) $14,000.00
3) $155,000.00 - note this is not the correct answer as it was marked incorrect on my quiz.
4) $169,000.00

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