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Determine the amount of after-tax funds maria

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Reference no: EM13518172

Maria, age 42, just resigned from Bygone Corporation to accept a new job with Future, Inc. Bygone informed Maria that she has a $38,000 balance in its qualified retirement plan and wants to know if she plans to roll over this balance into another plan or prefers to receive a lump sum payment. Maria is in the 28 percent marginal tax bracket and would like to buy a new car with the funds although the local car dealer is currently offering very attractive low-interest financing. Determine the amount of after-tax funds Maria would have available to pay for the car if she takes a lump sum distribution, and make a recommendation on what you think she should do.

Reference no: EM13518172

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