fing between traditional and Roth IRAs n Hansen is in his early 30 s and is thinking about opening an IRA. He can't decide whether to open a traditionaydeductible IRA or a Roth IRA, so he turns to you fo a. To support your explanation, you decide to run some comparative numbers on the two types or accounts; for starters, use a 25-year period to show Dustin what contributions of $6,000 (before taxes, If applicable) per year will amount to (after 25 years) given that he can eam, say, 10 percent on his money. Assume that the money are imvested at the end of each year and that Dustin is in the 22 percent tax bracket (and will remain there for the next 25 years). Round your answers to the nearest dollar. Traditional IRA Roth IRA 5 Wiu the type of account he ogens have any impact on this amount? Explain The input in the box below will not be graded, but may be reviewed and considered by your instructor: B. Assuming that Dustun is in the 22 percent tax bracket (and will remain there for the noxt 25 years), determine the annual and total (over 25 years) tax savings he'l enjoy from the 56,000 -a-year contributions to his ItAA; contrast the (annual and total) tax savings he'd generate from a traditional tha with those from a Roth itiA. If an answer is zero, enter " 0 *, Round your answers to the nearest dollar. Traditional IRA annual tax savingsi 5 Roth IRA annuat tax savings: Traditional IRA total tax sivings? Roth IRA total tox savings! c. Now, fast-forward 25 years. Given the size of Dustin's account in 25 years (as computed in part a), assume that he takes it all out in one lump sum. If he's noh In the 32 percent tax bracket, how much will he have, after taxes, with a traditional IRA as compared with a Roth IRA? Round your answers to the nearest dollar. How do the taxes computed here compare with those computed in part b? Comment on your findings. The input in the box below will not be graded, but may be reviewed and considered by your instructor. d. Based on the numbers you have computed as well as any other factors, what kind of IRA would you recommend to Dustin? Maximum aliowable annual contributions to IRAs are 56,000 for 2019 for those under 50 and 57,000 for those over 50 . Would knowing that maximum contributions are scheduled to increase to $7,000 per year make any difference in your analysis? Explain. The input in the box below wili not be graded, but may be reviewed and considered by your instructor