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 2013.Due to his recent success in the stock market,he has requested that he receive only $5,000 in 2013.Because Karl will fail to receive the required annuity distribution in 2013,he is subject to a penalty of

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