Question 3 Elizabeth is in the 22% marginal federal tax bracket. If she contributes $3,100 pre-tax to her 401(k) plan at work, by how much will this lower her taxable income? $3,100 $2,418 O $682 1 pts $782 (because of Wisconsin's automatic $100 deduction)

Elizabeth is in the 22% marginal federal tax bracket. If she contributes $3,100 pre-tax to her 401(k) plan at work, by how much will this lower her taxable income? $3,100 $2,418 $687 $782 (because of Wisconsin's automatic $100 deduction)