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QUESTION
Rachel, age 42, established a ROTH IRA and contributed $5,000 per year for 20 years. Assume the account balance is $297,000 ($100,000 contributions,...
Rachel, age 42, established a ROTH IRA and contributed $5,000 per year for 20 years. Assume the account balance is $297,000 ($100,000 contributions, $197,000 in earnings). Rachel plans to withdraw the entire amount. Her marginal tax rate is 25 percent. How much tax would be paid as a result of this decision?
