Jerry and his wife Atric each have a traditional IRA. Each IRA has a current balance of $400,000. Jerry decides to convert his to a Roth IRA. Jerry has a cash account with $136,000 in it. His household is in the 34% tax bracket. After converting, what is Jerry's actual spending power (not counting his wife's assets)?

Group of answer choices

$264,000

$400,000

Zero. ($0.00).

$536,000