Tyson (48 years old) owns a traditional IRA with a current balance of $50,000. The balance consists of $30,000 of deductible contributions and $20.000 of account earnings Tyson's marginal tax rate is 25 percent. Convinced that his marginal tax rate will increase in the future. Tyson receives a distribution of the entire $50,000 balance of his traditional IRA. He retains $12.500 to pay tax on the distribution and he contributes $37,500 to a Roth IRA What amount of income tax and penalty must Tyson pay on this series of transactions? Multiple Choice $12,500 income tax: $3,000 penalty. $0 income tax: $0 penalty. $12,500 income tax: $5,000 penalty. $12,500 income tax: $1,250 penalty