Question
Mrs. Logan, age 64, plans to retire this December. She estimates that the balance in her IRA will be $86,500, which she plans to withdraw
Mrs. Logan, age 64, plans to retire this December. She estimates that the balance in her IRA will be $86,500, which she plans to withdraw to finance the purchase of a condominium. Her marginal tax rate is 24%. What is her after-tax cash from the IRA liquidation assuming that the IRA is a ROTH IRA she opened in 1999.
Group of answer choices
A. $73,564
B. $53,900
C. $65,740
D. $86,500
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Financial Accounting The Basics
Authors: Ilias Basioudis
1st Edition
1138605514, 9781138605510
