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19 Mr. Thano, age 47, withdrew $22,000 from his employer-sponsored qualified retirement plan to pay for his daughter's wedding. Compute the tax cost (and premature
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Mr. Thano, age 47, withdrew $22,000 from his employer-sponsored qualified retirement plan to pay for his daughter's wedding. Compute the tax cost (and premature withdrawal penalty, if applicable) of the withdrawal if Mr. Thano has a 37% marginal tax rate on ordinary income. Multiple Choice $2,200 $8,140 $10,340 $11,000 Step by Step Solution
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