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Find what is amount of lee initial required distribution

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Problem 1: Lee, a single individual, turned 71 on December 13, 2020. The fair market value of his 401(k) plan was $400,000 December 31, 2020 and $425,000 on December 31, 2021 The factors, according to the Uniform Life Table, for ages 71, and 72 are 26.5, and 25.6, respectively. What is the amount of Lee's initial required minimum distribution for 2021?

Reference no: EM132838575

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