Mr and Mrs Lawry, Both Age 60, Each Make the Maximum

question 89

Multiple Choice

Mr and Mrs Lawry, both age 60, each make the maximum contribution to their traditional IRAs. Mr Lawry is an active participant in a section 401(k) plan, but Mrs Lawry is not an active participant in any other qualified plan. If their joint AGI before any IRA deduction is $144,900, compute their AGI.

• A) $144,900
• B) $139,400
• C) $138,400
• D) $131,900

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Definitions:

Preconscious

The part of the mind that contains thoughts and feelings that are not currently in conscious awareness but can easily be brought to consciousness.

Unconscious

The part of the mind that houses memories, desires, and feelings not within the immediate awareness of the individual.

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, enforcing ethical conduct and societal norms.

Structural Model

A representation that outlines the arrangement and connectivity of components within a system or theory.