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Tom and Carla, both age 38, are married and have an adjusted gross income of $195,000. They have never established an Individual Retirement Account until
Tom and Carla, both age 38, are married and have an adjusted gross income of $195,000. They have never established an Individual Retirement Account until this year, when they both opened Roth IRAs. Neither Tom nor Carla is covered by another retirement plan. What is the maximum amount they can each contribute to Roth IRAs?
Group of answer choices
Tom: $ - 0 - Carla: $ - 0 -
Tom: $1,200 Carla: $ 1,200
Tom: $2,400 Carla: $ 2,400
Tom: $4,800 Carla: $ 4,800
Tom: $6,000 Carla: $ 6,000
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