Nicholas earned 11.5...accounting questions Nicholas earned 11.5% in his savings account.If he is in the 27% tax bracket, what is his after-tax savings rate of return?a. 2.88%b. 4.14%c. 8.40%d. 11.50%e. 27.00%

Step 1: Given Value for Calculation Before Tax Rate of Return = 11.5%Tax Rate = 27% Step 2:…

Answered: Nicholas earned 11.5% in his savings…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 30MCQ

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Nicholas earned 11.5% in his savings account. If he is in the 27% tax bracket, what is his after- tax savings rate of return? a. 2.88% b. 4.14% c. 8.40% d. 11.50% e. 27.00%