Katrina's executive compensation package allows her to participate in the company's nonqualified deferred compensation plan. This year, Katrina defers 20 percent of her $420,000 salary. Katrina's deemed investment choice will earn 6 percent annually on the deferred compensation until she takes a lump-sum distribution in 12 years. Katrina's current marginal tax rate is 24 percent and she expects her marginal tax rate will be 35 percent upon receipt of the deferred salary. What is her after-tax accumulation from the deferred salary in 12 years? (Round future value factors to five decimal places and the future value and final answers to the nearest whole number.)
Correct Answer:
Verified
${{[a(7)]:#,###}} (${...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q106: On March 30, Rodger (age 56)was laid
Q109: Amy is single. During 2020, she determined
Q116: Amy is single. During 2020, she determined
Q121: Sean (age 74 at end of 2020)retired
Q125: Carmello and Leslie (ages 34 and 35,
Q127: In 2020, Tyson (age 52)earned $50,000 of
Q127: Sean (age 70 at end of 2020)retired
Q128: Katrina's executive compensation package allows her to
Q128: Sean (age 74 at end of 2020)retired
Q139: In 2020, Tyson (age 22)earned $3,500 from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents