One reason to consider converting an investment account to a Roth account during the time frame between retirement and when the RMDs begin is ____________________ Group of answer choices

a. you are not allowed to convert during any other time.

b. in many cases, this time frame represents the lowest tax bracket of one's life (at least recently).

c. you will be able to begin the RMDs sooner.

d. You will not be required to pay taxes on the conversion.

Question 7 Question 7 4 pts

Which of the following is true of an inherited traditional IRA? Group of answer choices

a. It is tax free.

b. Anyone may convert it to a Roth IRA, regardless of income level.

c. It is not eligible for conversion to a Roth account.

d. One may convert it to a Roth, as long as one makes less than $100,000.

Question 8 Question 8 4 pts

If Brent is still working, which of the following is true regarding his traditional 401(k) plan through his employer? Group of answer choices

a. Under no circumstances can it be converted to a Roth account.

b. If allowed by the plan, it may be converted to a Roth account while Brent is still working.

c. The plan can only be converted to a Roth after Brent retires from his company.

d. The account is kept in place while Brent is working, and it may not be converted upon his leaving the company

Question 9 4 pts

Fredo and Neal each have traditional accounts that they would like to convert to Roth IRAs. Fredo's IRA has a balance of $100,000. Neal's account has $$200,000. Fredo has $22,000 in cash outside of the IRA. Neal's cash balance is $58,000. Fredo is in the 22% tax bracket. Neal is in the 24% tax bracket. If both Fredo and Neal convert their accounts to Roth IRAs, how much spending power does each of them have? Group of answer choices

a. Fredo has $100,000 and Neal has $200,000

b. Fredo has $100,000 and Neal has $210,000

c. Fredo has $22,000 and Neal has $58,000

d. Fredo has $122,000 and Neal has $258,000

10 Question 10 4 pts

Donny has a traditional IRA with a balance of $700,000 today. He has $300,000 in cash. Donny doesn't retire for another 10 years. If he converts the IRA to a Roth IRA today, how much spending power will he have left? (Donny is in the 37% tax bracket). Group of answer choices

a. $741,000

b. $441,000

c. $482,000

d, $41,000

11 Question 11 4 pts

Jim has a traditional IRA. He has $300,000 in the IRA today. Jim also has $102,000 in cash. He is in the 34% tax bracket. Jim converts the IRA to a Roth IRA today. He invests everything he has remaining (in the Roth IRA) into a mutual fund that is projected to earn 10.7% per year over the next 11 years. When Jim turns 60 eleven years from now, what should his spending power be (assuming he saves no other money between now and then)? Group of answer choices

a. $402,000

b. $300,000

c. $917,794

d. $1,229,844