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1. Larry's salary in 2018 is $79,000. He has no pension plan at work and he put the maximum into an RRSP at the end

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1. Larry's salary in 2018 is $79,000. He has no pension plan at work and he put the maximum into an RRSP at the end of 2019. Larry had no RRSP carry forward from previous years. How much did Larry save on his taxes by making this RRSP contribution if his marginal tax rate is 30.5%? (2 marks)

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