8. Paul and Mary, both age 45 , files taxes as married filing jointly, and have a MAGi of $130,000 for 2020 . Mary participates in a 401(k) plan at work. Paul does not. Which of the following are true? I. Both Paul and Mary can do Roth IRAs. II. Only Paul can do a Roth IRA. III. Only Mary can do a Roth IRA. IV. Only Paul can do a deductible IRA. V. Both Paul and Mary can do deductible IRAs. A. I, II, V B. II, IV C. I, IV D. III, V