Scott and Allison are married and file a joint tax return. Scott is a graduate student who works part-time and earned $15,000 in 2010. He is not eligible to participate in his employer's retirement plan because he is a part- time worker. Allison is a high school teacher who earned $50,000 in 2010 and is an active participant in the school district's retirement plan. Assume you are a financial planner and the couple asks for your advice. Based on the preceding facts, answer each of the following questions. Answer at least 2 of the following: a.Is Scott eligible to establish and deduct contributions to a traditional IRA? Explain your answer. b.Is Allison eligible to establish and deduct contributions to a traditional IRA? Explain your answer. c. Assume that Scott graduates and the couple's modified adjusted gross income is $130,000. Both Scott and Allison participate in their employers' retirement plans, Can either Scott or Allison, or both, establish a Roth IRA? Explain your answer. d.Allison has a baby and withdraws from the labor force to raise the child. She is no longer an active participant in the school district's retirement plan. Scott receives a promotion and continues to participate in his employer's retirement plan. His annual salary is $110,000. Can Allison make a tax- deductible contribution to a traditional IRA? Explain your answer. e. Explain to Scott and Allison the advantages of a Roth IRA over a traditional IRA