Sherry, age 34, participates in a defined contribution plan. The plan uses 5-year cliff vesting. She has worked at her employer for 3 years. In total, she has made employee contributions of $30,000. Her employer has matched 70% and made an additional $21,000 contribution. Sherry decides to close the plan and fully withdraw everything. How much does Sherry's tax increase due to this withdrawal? She is in the 24% marginal tax bracket.

$7,200 (INCORRECT OPTION )

$17,340

$12,240

$10,200