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    Understanding Business Study Set 1
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    Exam 25: Extension: Managing Personal Finances
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    James Is in the 30% Tax Bracket
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James Is in the 30% Tax Bracket

Question 254

Question 254

Multiple Choice

James is in the 30% tax bracket. What is the after-tax cost of a $3,000 contribution to his traditional IRA account?


A) $900
B) $1,440
C) $2,100
D) zero

Correct Answer:

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