3. Charlie, Gabe, and Sasha all work for the same company making $78,654 dollars annually. Thecompany will match what they contribute to their 401(k) plans up to 12% of their salary annually $0.25to the $1.00. Charlie is not contributing anything to their 401(k) plan and using those funds to investelsewhere. Gabe is contributing $850 dollars a month to their 401(k). Sasha is contributing $200 amonth to their 401(k).a. What is the annual max that the company will contribute to their workers' 401(k) plans?b. What is the monthly max that the company will contribute to their workers' 401(k) plans?c. How much money does the company attribute to Gabe's retirement account monthly?d. What is the total amount of money Gabe acquire in their retirement account monthly?e. How much money does the company attribute to Sasha's retirement account annually?f. What is the total amount of money Sasha's acquire in their retirement account annually?g. If all workers fall in the 32.5% tax bracket, how much does Charlie pay in taxes?

Solution: Please see the answer below: The annual max that the company will contribute to their…

Answered: 3. Charlie, Gabe, and Sasha all work…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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