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Yakov has dedded to contribute to a savings program. He can open a traditional 401(k)...

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Accounting

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Yakov has dedded to contribute to a savings program. He can open a traditional 401(k) or a Roth 401(k) and has determined that he can afford a $13,200 contribution. Yakov'5 salary is $82,500 per year, and he is in the 24% tax bracket. If Yakov decides to go with a traditional 401(k), his contribution amount will be And the amount offset via a reduced tax bill will be If, instead, Yakoy dedides to oo with a Roth 401(k), his contribution amount will be And the amount offset via a reduced tax bill will be Assuming all the same facts, suppose that yakov decides to open both 401(k) plans, splitting what he can afford to contribute equally between both ptans. Under this soenario, Yakov's contribution amount will be And the amount offset via a reduced tax bill will be When Yakon retires, which plan's monies will he be able to exclude frorn taxable income

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