Mr and Mrs

question 97

Multiple Choice

Mr. and Mrs. Lawry, both age 60, each make the maximum contribution to their traditional IRA. 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) $139,900
• C) $138,900
• D) $132,900

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Definitions:

Six-Figure Accuracy

A term indicating precision to the nearest hundred-thousandth, or a number having six significant digits.

Six-Figure Accuracy

A term referring to a level of precision that rounds to the nearest hundred-thousandth place, often used in mathematical, scientific, or financial contexts to indicate very high accuracy.

Superscript

A small figure or letter written above and to the right of a letter or number to indicate its exponentiation, ordinality, or other mathematical or chemical significance.

Six-Figure Accuracy

A level of precision in numerical calculation or measurement that extends to at least 100,000 but less than 1,000,000.