Multiple Choice
Jake invested $800 in an IRA.If he has a 15 percent marginal tax rate and the contribution is tax deductible,Jake will
A) pay $120 more in taxes.
B) pay $120 less in taxes.
C) receive no change to his tax liability.
D) have $800 more in adjusted gross income.
Correct Answer:
Verified
Correct Answer:
Verified
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