Multiple Choice
Solve the problem. Refer to the table if necessary. 
-You are single and have a taxable income of $56,767. You make monthly contributions of $455 to a tax-deferred savings plan. Calculate the effect on annual take-home pay of the tax-deferred
Contribution.
A) Take-home pay will be $1365 more per year with tax-deferred plan
B) Take-home pay will be $1820 less per year with tax-deferred plan
C) Take-home pay will be $1820 more per year with tax-deferred plan
D) Take-home pay will be $1365 less per year with tax-deferred plan
Correct Answer:
Verified
Correct Answer:
Verified
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