Clayton received a $140,000 distribution from his 401(k) account this year. Assuming Clayton's marginal tax...
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Accounting
Clayton received a $140,000 distribution from his 401(k) account this year. Assuming Clayton's marginal tax rate is 25 percent, what is the total amount of tax and penalty Shauna will be required to pay if she receives the distribution on her 62nd birthday and she has not yet retired? Group of answer choices
$0
$14,000
$35,000
$49,000
None of the choices is correct.
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