film PU) Learn Time left 2:11:39 Question 18 Not yet answered Marked out of 1.00 P Flag question On April 15, Richard (age 57) was fired from his employer of 25 years due to poor performance. During his 25 years of employment, Richard contributed $200,000 to his traditional 401(k) account. When Richard was fired, his 401(k) account balance was $700,000 (this included both employer matching and account earnings). Richard immediately withdrew $50,000 to use for expenses.. What amount of tax and 10% early distribution penalty must Richard pay on the $50,000 withdrawal if his ordinary marginal tax rate is 32 percent? Answer: Previous page Next page 508 ZOOM Online Lecture 1.A