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Michelle is age 25. Her income tax rate is now 25%, but will be 15% after retiring at age 65. She invests enough into her

Michelle is age 25. Her income tax rate is now 25%, but will be 15% after retiring at age 65. She invests enough into her 401(k) to reduce her take-home pay by $750. She receives a dollar-for-dollar match from her employer for 401(k) contributions. If she earns a 4% annual pretax return, and withdraws everything after retiring at age 65, the amount she can spend after taxes will be:

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