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An investor makes a deductible (before-tax) contribution of $1,582 to a traditional IRA. The IRA...

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Accounting

An investor makes a deductible (before-tax) contribution of $1,582 to a traditional IRA. The IRA contribution grows at an 11.10 percent before-tax rate of return compounded annually for 15 years when it is distributed. The distribution is subject to a 25 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.

Round the final answer to two decimal places.

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