Multiple Choice
Meg was the beneficiary of a $50,000 life insurance policy when her father died at the end of 2011.The insurance company gives her the option of taking the $50,000 as a lump sum immediately or receiving an annuity of $8,000 per year for 12 years beginning in 2013.Meg takes the annuity option.What amount must Meg include in her income in 2013?
A) 0
B) $3,000
C) $3,833
D) $8,000
Correct Answer:
Verified
Correct Answer:
Verified
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