Dana,age 31 and Unmarried,is an Active Participant in a Qualified

question 82

Multiple Choice

Dana,age 31 and unmarried,is an active participant in a qualified retirement plan.Her AGI is $118,000.What amount,if any,may Dana contribute to a Roth IRA in 2014?

• A)$0
• B)$3,225
• C)$4,033
• D)$5,500
• E)None of these

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Definitions:

Profits of Industry

The total earnings of companies within a specific sector after subtracting costs and expenses.

Resources Employed

Refers to the allocation and utilization of resources such as labor, capital, and materials to produce goods and services.

Output of Industry

The total amount of goods and services produced by an industry or sector within a specific period, often used to gauge economic health and productivity.

Economic Profit

The difference between total revenues and total costs, taking both explicit and implicit costs into account, indicating the additional income over the opportunity cost of capital.