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Juan Flores is an operations manager for a large manufacturer. He earned $68,500 in 2014...

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Accounting

Juan Flores is an operations manager for a large manufacturer. He earned $68,500 in 2014 and plans to contribute the maximum allowed to the firms 401(k) plan. Assuming that Juan is in the 25% tax bracket, calculate the amount of his tax savings on his 401(k) plan contributions. How much did it actually cost Juan on an after tax basis (adjusting for taxes saved) to make this retirement plan contribution?

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