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What is the maximum IRA contribution that Mr.Higgins can make under each of the following assumptions?
a.He is age 22 and single.His only income is $14,000 of interest and dividends from a trust fund.
b.He is age 30 and single.His only income is a $35,000 distributive share of ordinary business income from a partnership.
c.He is age 60 and single.His only income is $44,000 wages from his job.
d.He is 45 and files a joint return with his wife.His sole proprietorship generates an $8,200 loss,and his wife's salary is $50,000.
Heartbeat
The rhythmic contraction and relaxation of the heart, pumping blood throughout the body.
Angina Pectoris
A condition characterized by chest pain due to reduced blood flow to the heart muscle.
Blood Supply
The provision of blood to a particular area or organ of the body, essential for delivering nutrients and oxygen.
Arteries
Blood vessels that carry oxygenated blood away from the heart to the body's organs and tissues.
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