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You are hired at a top tier firm. Your salary is $60,000. You have no other income. You contribute 18,500 to your firms traditional 401(k).

You are hired at a top tier firm. Your salary is $60,000. You have no other income. You contribute 18,500 to your firms traditional 401(k). Your income tax rate is 12%. What is the total tax that you pay? Do not show taxes paid by others on your behalf.

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