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In need of extra cash, Troy and Lilly decide to withdraw $9,400 from their traditional IRA. They are both 40 years old. They are in

In need of extra cash, Troy and Lilly decide to withdraw $9,400 from their traditional IRA. They are both 40 years old. They are in a 22% marginal tax bracket. What will be the tax consequences of this withdrawal? (Note: Assume a penalty of 10% of the withdrawn funds.) The tax consequences of this withdrawal will be $___

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