Jong, age 29, is single and is an active participant in a qualified retirement plan. Her modified AGI is $68,000 in 2021.

Calculate the amount Jong can contribute to a traditional IRA and the amount she can deduct.

a.Jong can contribute $________to her traditional IRA, but she can deduct $________

b.Assume instead that Jong is a participant in a SIMPLE IRA and that she elects to contribute 4% of her compensation to the account, while her employer contributes 3%.

Jong will contribute $_________ to her SIMPLE IRA account. Her employer will contribute $_________. The amount that will vest immediately is $_______

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