1. Tom, age 47, lost his job at JC Penney. He currently has $150,000 in his qualified retirement plan account. Of the $150,000:

$75,000 represents his deferrals

$30,000 represents employer match

$25,000 represents profit sharing

$20,000 represents earnings on the account

Tom now wants to spend $15,000 of his retirement plan money to buy a motorcycle to have fun and ease his stress. If we assume his ordinary income tax rate is 12%, and considering any early distribution penalties, how much would his gross distribution from the retirement plan have to be in order to have $15,000 to spend after tax and penalty?