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What are the taxes owed if you withdraw the funds

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Reference no: EM132775909

Your traditional IRA account has stock of GFH, which cost $2,000 20 years ago when you were 50 years old. You have been very fortunate, and the stock is now worth $23,000. You are in the 32% income tax bracket and pay 15% on long term capital gains.

a) What was the annual rate of growth in the value of the stock?

b) What are the taxes owed if you withdraw the funds?

Reference no: EM132775909

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