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Marissa participates in her employers nonqualified deferred compensation plan. For 2016, she is deferring 13...

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Accounting

Marissa participates in her employers nonqualified deferred compensation plan. For 2016, she is deferring 13 percent of her $477,000 annual salary.

Assuming this is her only source of income and her marginal income tax rate is 30 percent, how much tax does Marissa save in 2016 by deferring this income (ignore payroll taxes)?

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