Please given answer general accounting Fred needs $65,000 after tax in retirementincome. If his expected average tax rate willbe 21% and his marginal will be 27%, how muchdoes he need before tax?a. $89,041.b. $82,278.c. $78,650.d. None of the above.e. $82,550.

Step 1: Define Income TaxThe tax levied by the government of an economy can be broadly bifurcated…

Answered: Fred needs $65,000 after tax in…

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 57P

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Fred needs $65,000 after tax in retirement income. If his expected average tax rate will be 21% and his marginal will be 27%, how much does he need before tax? a. $89,041. b. $82,278. c. $78,650. d. None of the above. e. $82,550.