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Accounting

Marissa participates in her employer's nonqualified deferred compensation plan. For 2011, she is deferring 11 percent of her $407,000 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 2011 by deferring this income?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976932

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