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Parker has $10,000 to invest. He wants to put his money in a one-year investment earning an annual interest rate of 12%. Parker is in

Parker has $10,000 to invest. He wants to put his money in a one-year investment earning an annual interest rate of 12%. Parker is in a 42% tax bracket. Required: a) Calculate the total value of Parker's investment, after-tax, at the end of the year. b) Calculate the amount of tax Parker will pay on his investment.

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