Business, 20.03.2020 19:20 aorilneedshelp6636

Mrs. Lohan, age 64, plans to retire this December. She estimates that the balance in her IRA will be $86,500, which she plans to withdraw to finance the purchase of a condominium. Assuming that her marginal tax rate is 24 percent, compute her after-tax cash from the IRA liquidation assuming that: The IRA is a Roth IRA that she opened in 1999. The IRA is a traditional IRA to which she made only deductible contributions. The IRA is a traditional IRA to which she made $20,400 deductible and $32,600 nondeductible contributions.

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Mrs. Lohan, age 64, plans to retire this December. She estimates that the balance in her IRA will be...

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