Opal earned 10% in her savings account. If she is in the 28% tax bracket, what is her after-tax savings rate of return? a. 4.40% b. 2.80% c. 7.20% d. 10% e. 28%
Opal earned 10% in her savings account. If she is in the 28% tax bracket, what is her after-tax savings rate of return? a. 4.40% b. 2.80% c. 7.20% d. 10% e. 28%
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 1BCRQ
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Question
What is her after -tax savings
Transcribed Image Text:Opal earned 10% in her savings account. If she
is in the 28% tax bracket, what is her after-tax
savings rate of return?
a. 4.40%
b. 2.80%
c. 7.20%
d. 10%
e. 28%
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