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Grayson (age 50) withdraws $75,000 from his tax-sheltered retirement plan to invest in a new business. His withdrawal pushes him into the 26 percent marginal
Grayson (age 50) withdraws $75,000 from his tax-sheltered retirement plan to invest in a new business. His withdrawal pushes him into the 26 percent marginal tax bracket and the contributions to the plan have not been taxed previously, how much will he have available after paying in taxes and penalties?
| A | $55,000 | |
| B | $48,000 | |
| C | $67,500 | |
| D | $75,000 |
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