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Jason turned 70 1/2 in November of this year. He was a participant in his employer's profit sharing plan. His profit sharing plan had an account balance of $250,000 on December 31 of this year and $200,000 on December 31 of last year. According to the Uniform Lifetime Table the factors for ages 70, 71, and 72 are 27.4, 26.5, and 25.6, respectively. What is Jason's approximate required minimum distribution for this year?

A. $0
B. $7,300
C. $7,547
D. $9,124

 

Basic Finance, Finance

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