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Required information Problem 13-60 (LO 13-2) (Algo) [The following information applies to the questions displayed below] In 2023, Nina contributes 12 percent of her $125,000
Required information Problem 13-60 (LO 13-2) (Algo) [The following information applies to the questions displayed below] In 2023, Nina contributes 12 percent of her $125,000 annual salary to her 401(k ) account. She expects to earn a 5 percent before tax rate of return. Assume she leaves the funds in the account until she retires in 20 years when she receives a distribution of the 2023 contribution and its associated earnings. What would be the after-tax proceeds of the distribution? Note: Round your intermediate calculations and final answers to the nearest whole dollor amount. Problem 13-60 Part b (Algo) b. Assume Nina's marginal tax rate at retirement is 20 percent
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