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Assuming that david is in the 25 percent tax bracket

David Cheung is an operations manager for a large manufacturer. He earned $72,500 in 2015 and plans to contribute the maximum allowed to the firm's 401(k) plan. Assuming that David is in the 25 percent tax bracket, calculate his taxable income and the amount of his tax savings. How much did it actually cost David on an after-tax basis to make his retirement plan contribution?

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Financial Management: Assuming that david is in the 25 percent tax bracket

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