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  3. in 2022 , nitai (age 40) contributes 10 percent of

In 2022 , Nitai (age 40) contributes 10 percent of his $103,000 annual salary to...

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Accounting

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In 2022 , Nitai (age 40) contributes 10 percent of his $103,000 annual salary to a Roth 401(k) account sponsored by his employer, AY Incorporated. AY Incorporated matches employee contributions to the employee's traditional 401(k) account dollar-for-dollar up to 10 percent of the employee's salary. Nitai expects to earn a 12 percent before-tax rate of return. Assume he leaves the contributions in the Roth 401(k) and traditional 401(k) accounts until he retires in 30 years and that he makes no additional contributions to either account. What are Nitai's after-tax proceeds from the Roth 401(k) and traditional 401(k) accounts after he receives the distributions, assuming his marginal tax rate at retirement is 30 percent? (Use Table 1, Table 2.) Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. Future Value of $1 Future Value of Annuity of $1

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