User Account

All Pages

What amount of the withdrawal

Assignment Help Accounting Basics
Reference no: EM132951022

Question - Brooklyn has been contributing to a traditional IRA for seven years (all deductible contributions) and has a total of $30,000 in the account. In 2020, she is 39 years old and has decided that she wants to get a new car. She withdraws $20,000 from the IRA to help pay for the car. She is currently in the 24 percent marginal tax bracket. What amount of the withdrawal, after tax considerations, will Brooklyn have available to purchase the car?

Reference no: EM132951022

Questions Cloud

Compute the net operating profit after tax : Compute the net operating profit after tax (NOPAT) for the fiscal year ended 12/31/2014. Assume the statutory rate (STR) is 37%.
Which would increase residual operating income : Which would increase residual operating income (ROPI)? Decrease net operating profit after tax (NOPAT) with same level of net operating asset (NOA) investment.
What amount should be reported as inventory : Duplication of computer software and training materials from product master- 3,000,000. What amount should be reported as inventory
Estimate the firm-specific expected return : Assume the risk-free rate is 2%, Estimate the firm-specific expected return (cost of equity capital) using the capital asset pricing model (CAPM). A- 16%
What amount of the withdrawal : In 2020, she is 39 years old and has decided that she wants to get a new car. What amount of the withdrawal, after tax considerations, will Brooklyn have
How much is the estimated warranty liability for the copier : How much is the estimated warranty liability for this copier as of December 31, 2017? Hitzu Co. sold a copier costing $5,500 with a two-year parts warranty
What will be the resulting percentage change in EBIT : Assume that current level of sales is 308 units. What will be the resulting percentage change in EBIT if they expect units sold to changes by 9.5 percent
Allocate the total cost among the three purchased assets : Allocate the total cost among the three purchased assets. The real estate consists of land appraised at $184,000; land improvements appraised at $69,000.
Describe the history with crm : 1. Choose a company. (About company and its history with CRM)

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd