A company pays salary of 75000 to an employee both employer, Financial Management

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A company pays salary of 75000 to an employee both employer

A company pays salary of $75,000 to an employee. Both employer and employee contribute $7,500 each in qualified retirement plan for the employee. Marginal tax rates for employer and employee are 28% and 15% respectively. What is the total tax savings for both employer and employee combined? What steps to solve this problem in calculator?

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Financial Management: A company pays salary of 75000 to an employee both employer

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Financial Management: A company pays salary of 75000 to an employee both employer

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Q : A company pays salary of 75000 to an employee both employer