Mia contributed $100,000 to a Roth IRA over the past 20 years. She retired at age 60 and would like to withdraw all the funds. Shewould be in the 24% federal marginal tax bracket. How much will she pay in income taxes on the funds?O $0.O $34,000.O $10,000.O $24,000.

ROTH IRA are retirement plan in which amount of deposit are done after paying adequate taxes and…

Answered: would be in the 24% federal marginal…

would be in the 24% federal marginal tax bracket. How much will she pay in income taxes on the funds? O $0. O $34,000 O $10.000 O $24,000

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Mia contributed $100,000 to a Roth IRA over the past 20 years. She retired at age 60 and would like to withdraw all the funds. She
would be in the 24% federal marginal tax bracket. How much will she pay in income taxes on the funds?
O $0.
O $34,000.
O $10,000.
O $24,000.

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