Karl Is Scheduled to Receive an Annuity Distribution of $10,000

Multiple Choice

Karl is scheduled to receive an annuity distribution of $10,000 from his pension plan in 2016.Due to his recent success in the stock market,he has requested that he receive only $5,000 in 2016.Because Karl will fail to receive the required annuity distribution in 2016,he is subject to a penalty of

A) $-0-
B) $500
C) $1,000
D) $2,500
E) $5,000