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Jenny age, 55 wants to convert $18,000 balance in her traditional IRA account into Roth IRA after paying necessary taxes. In addition, she plans to deposit $5000 (post tax) into Roth IRA. How much can Jenny withdraw from Roth IRA after 5 years (when she is 60)? Assume expected return of 10% and marginal tax rate of 28%.

A. $28,925

B. $26,389

C. $28,500

D. $27,634

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Financial Management, Finance

Category:- Financial Management
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