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$[$The following information applies to the questions displayed below.$]$

Tim has worked for one employer his entire career. While he was working, he particlpated In the employer's defined

contribution plan $[$traditional $401$k$)].$ At the end of $2023,$ Tim retires. The balance in his defined contribution plan at the

end of $2022$ was $$2,000,000.($Use Exhlblt $13-3.)$

Note: Leave no answers blank. Enter zero if applicable.

d$.$ Assuming that Tim is $76$ years old at the end of $2023$ and his marginal tax rate is $32$ percent, what amount of his distribution will he

have remaining after taxes if he recelves only a distribution of $$50,000$ for $2023?$

Answer is complete but not entirely correct.

Required information

$[$The following information applles to the questions allsplayed below.$]$

TIm has worked for one employer his entire career. While he was working, he particlpated in the employer's defined

contribution plan $[$traditional $401$k$)].$ At the end of $2023,$ Tim retires. The balance in his defined contribution plan at the

end of $2022$ was $$2,000,000.($Use Exhlblt $13-3.)$

Note: Leave no answers blank. Enter zero if applicable.

d$.$ Assuming that Tim is $76$ years old at the end of $2023$ and his marginal tax rate is $32$ percent, what amount of his distribution will he

have remaining after taxes if he recelves only a distributlon of $$50,000$ for $2023?$

After$-$tax amount

The answer is also not $$34,000.$

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