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How much of the withdrawal will she retain

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Question - Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $12,000 to the Roth IRA ($4,000 a year). The current value of the Roth IRA is $20,200. In the current year, Sherry withdraws $17,900 of the account balance to purchase a car. Assuming Sherry's marginal tax rate is 24 percent, how much of the $17,900 withdrawal will she retain after taxes to fund her car purchase?

Reference no: EM132570190

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