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Lloyd and his wife, Jean, have no retirement plan at work, but they contribute $4,000 each year to a traditional IRA. They are in a
Lloyd and his wife, Jean, have no retirement plan at work, but they contribute $4,000 each year to a traditional IRA. They are in a 24% marginal tax bracket. What tax savings will they realize for these contributions annually? The tax savings they will realize annually for these contributions is $
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