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Taxpayer A: After-tax amount invested = $4,500 (1 - 0.45) E $c.476 per yea FV or investment = $2,475 (1 + 0 05, 5. 5

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Taxpayer A: After-tax amount invested = $4,500 (1 - 0.45) E $c.476 per yea FV or investment = $2,475 (1 + 0 05, 5. 5 854 Taxpayer B: After-tax amount invested = $4,500 (1 - 0 \\U) -c. 10 per year FV of investment $2 70) (1 - 7.08) 5:9 11 - Taxpayer ~: After-tax amount invested = $4,500 (1 - 0.20] $ 285 per year V or investment = $3.285 (1 + 0 06) +47 58 %

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