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MAVERICK [17]
2 years ago
6

Assume that Tommy and Michelle have an AGI of $107,000 before IRA deductions by either spouse. The AGI includes $10,000 that Mic

helle earned working part time (but she does not participate in an employer-sponsored retirement plan). Tommy and Michelle file a joint return. What is the maximum deductible contribution Tommy and Michelle may make to a traditional IRA?
Business
1 answer:
SIZIF [17.4K]2 years ago
8 0

Based on the AGI that Tommy and Michelle have, and the fact that they make a joint return, the maximum deductible contribution to a traditional IRA is $11,100.

<h3>How much is their joint maximum deductible contribution?</h3>

Michelle does not participate in an employer-sponsored retirement plan because she is working part-time.

This means that she is entitled to the full $6,000 maximum deductible contribution to a traditional IRA.

Tommy on the other hand, participates in an employer-sponsored retirement plan which means he will have to remove a certain percentage from the deductible based on his range of $104,000 - $124,000.

That rate will be 15% so he will pay:
= 6,000 x ( 1 - 15%)

= $5,100

The total contribution is:

= 6,000 + 5,100

= $11,100

Find out more on contributions to traditional IRAs at brainly.com/question/3629169

#SPJ1

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Answer:

Expected return = 28%

Explanation:

given data

invests $4,000

share = 200

return = 24%

and

invests = $2000

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return = 18%

and

invest = $4,000

share = 400

return = 28%

to find out

expected return on this portfolio

solution

we know total investment is

Total investment = 4000+2000+4000

Total investment = 10000

and

Wt. of Sand Corporation shares in the total portfolio= \frac{4000}{10000} =  0.4

Wt. of Water Corporation shares in the total portfolio=\frac{2000}{10000} =  0.2

Wt. of Beach Corporation shares in the total portfolio=\frac{4000}{10000} =  0.4

and

Expected return on the given portfolio is

Expected return = 0.4 × 24% + 0.4 × 18% + 0.4 × 28%

Expected return = 28%

5 0
3 years ago
A firm that must invest in new information systems capabilities in order to comply with federal legislation is investing to achi
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8 0
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during the month, the company's office manager used a company-issued credit card to purchase stamps. at the end of the month, th
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Explanation:

7 0
2 years ago
Please help ASAP will give 25 points.
m_a_m_a [10]

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c

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4 0
3 years ago
The stock price of Atlantis Corp. is $43 today. The risk-free rate of return is 10%, and Atlantis Corp. pays no dividends. A cal
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Answer:

correct option is  a. $.05

Explanation:

given data

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time = 6 month

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solution

we will apply here formula for worth that is  

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here C is given worth 5 and S is stock price and K is exercise price and t is time and r is rate

so put here all value in equation 1 we get

P = C - S + K × e^{-rt}

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