Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $12,600 to the Roth IRA ($4,200 a year). The current value of the Roth IRA is $17,600. In the current year, Sherry withdraws $15,300 of the account balance to purchase a car. Assuming Sherry's marginal tax rate is 24 percent, how much of the $15,300 withdrawal will she retain after taxes to fund her car purchase

$14,382

Explanation:

The computation of the withdrawal amount is shown below:-

Amount Subject to tax= Amount of Withdrawal + Non-Taxable Amount

= $15,300 + $12,600

= $2,700

After Tax withdrawal Retained = Non-Taxable Amount - Tax - Penalty

= $12,600 + ($2,700 - ($2,700 × 24%) - ($2,700 × 10%))

= $12,600 + ($2,700 - $648 - $270)

= $14,382

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.

answer; niosh, the national institute for occupational safety and health;