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Determining the marginal tax rate

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When Leslie retired at age 65, her sheltered savings provided her with a before-tax income of $42,000 p.a. This was based on the assumption she would live to age 95 and would leave no estate. Her RRSP investments were earning 5%. She died at age 85 and her nephew, Robin, inherited the balance of her RRSP. How much did he receive from the RRSP after tax if her marginal tax rate is 37% and his marginal tax rate is 45%?

Reference no: EM133061412

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