Assuming you were in the 25% federal and 5% state income tax brackets last year,and you allocated $200 per month to your flexible spending account,how much did you save if there was $1,000 remaining in the account at the end of the year?
A) You lost $1,000
B) You saved $720
C) You lost $280
D) Not enough information to accurately determine the answer
Correct Answer:
Verified
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