Mary just graduated college and needs to decide which retirement savings plan is most appropriate for her right now. Assume Mary's annual before tax rate of return is 7% across all of the available retirement accounts. Which of the following are true (each situation is independent of the others): I. Mary is an English major who had very easy classes in college but now has limited job prospects (McDonald's, maybe Dunkin' Donuts?). Since she's unlikely to earn more than minimum wage in this "career," she expects to be in the 12% tax bracket now and the 22% bracket in the future. Mary is better off investing in a traditional account than a Roth account. II. Mary is an accounting major who got a job in New York City. Because of the high cost of living, she makes a lot of money and is in the 37% tax bracket. However, she expects to retire to Florida and be in the 12% tax bracket. Mary is better off investing in a Roth account than a traditional account. III. Mary is an accounting major who got a job in Hartford. She earns a good salary, especially considering Hartford s relatively low cost of living. She also learned a number of tax saving strategies in her Introduction to Tax class, so she is currently in the 10% tax bracket. She is unwilling to move to a lower tax (and warmer!) state when she retires, so she expects to be in the 28 % tax bracket at retirement. Mary is better off investing in a Roth account than a traditional account