Suppose Leroy, with AGI of $150,000, has $6,000 in cash to invest in a traditional IRA this year, and will invest the tax savings into a taxable account for retirement. He does not have a retirement plan at work. His tax rate is 33.33%, so he can invest $2,000 into the taxable account. If Leroy is 40 and wants to withdraw the money at age 70, and can earn a 6% annual return pretax, what is his after-tax spending power at age 70? Assume his tax rate is constant at 33.33% throughout his life.

a.) $29,461

b.) $34,461

c.) $33,061

d.) $30,361

e.) $31,961