Nathan and his wife Becky are both 79 years old. They are in the 35% marginal tax bracket. Nathan's IRA has a balance of $1,500,000. According to IRS Table III, a person aged 79 has a Distribution Period factor of 22.3. If Nathan chooses not to take his RMD, how much will he owe in taxes and penalties (total)? $57,174.89 $23,542.60 None. $0.00. $33,632.29 Kerry elects to contribute 15% of his monthly salary of $20,000 to his company's 401(k) plan. His company matches the first 5% of his salary dollar-for-dollar ( 100% match). The IRS limit for employee contributions is $20,000 per year. How much of the employer matching funds is Kerry able to receive during the year? $20,000 $7,000 $10,000 $12,000 Jethro elects to contribute 7% of his monthly salary of $9,000 to his company 401(k) plan. His company matches the first 4% of his contribution dollar for dollar ( 100% match). His company matches the next 4% of his contribution 50 cents on the dollar ( 50% match). How much is the total monthly contribution (employee contribution plus employer matching) to Jethro's 401(k) plan? $495 $1,160 $360 $1,125