[Solved] Elizabeth currently makes $45,000 per yea

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Elizabeth currently makes $45,000 per year and is in a 25% tax bracket. If she contributes $2,400 to her 401(k) plan at work, by how

Elizabeth currently makes $45,000 per year and is in a 25% tax bracket. If she contributes $2,400 to her 401(k) plan at work, by how much will this lower her taxable income? A. 57,500 B. $2,400 C. 5600 D. $11250

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