Robert provider purchases a joint and survivor annuity, Financial Accounting

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Robert provider purchases a joint and survivor annuity

Robert Provider purchases a joint and survivor annuity providing for payments of $200 per month for his life and upon his death for his wife, Robin, for the remainder of her life. As of the annuity starting date Robert is 68 and Robin is 66. The annuity cost Robert $36,000. Determine the exclusion ratio for the annuity.

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Financial Accounting: Robert provider purchases a joint and survivor annuity

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