Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $12,000 to the Roth IRA ($4,000 a year). The current value of the Roth IRA is $20,200. In the current year, Sherry withdraws $17,900 of the account balance to purchase a car. Assuming Sherry'smarginal tax rate is 24 percent, how much of the $17,900 withdrawal will she retain after taxes to fund her car purchase?

Amount of withdrawal

non taxable amount

amount subject to tax

tax rate

penalty rate

tax

penalty

after tax withdrawal retained