Amy participates in a 401(k ) plan through her employer, but does not plan on retiring anytime soon. She is 70 years old on the last day of this year, which means she is subject to mandatory minimum distribution rules on April 1 of the following year. If her qualified account balance as of the end of last year was $500,000 what will the minimum distribution she has to take from her 401(k) plan (round to the nearest dollar)? Note: Use the IRS Distribution Table on p. 688 of the text
Distribution Period for Lifetime Distributions to an Employee Assignment
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