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# (Solved): If your tax liability is 25% of your salary of \$37,000: a. For every \$1 earned, how much goes to ...

If your tax liability is 25% of your salary of \$37,000: a. For every \$1 earned, how much goes toward taxes? (Round your answer to 2 decimal places.) b. How much of each \$1 is take-home pay? (Round your answer to 2 decimal places.) c. If you contribute \$1,200 to your 401(k) and your employer matches \$1,200, how much is added to your retirement that year? d. How much did the \$1,200 contribution to your 401(k) affect your take-home pay for the year? (Negative amount should be indicated by a minus sign.) e. What was your immediate return on your investment when you decided to contribute \$1,200 to your 401(k)? (Consider the cost to be the difference in your take-home pay. Round your answer to the nearest whole percent.)

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