Multiple Choice
Hector's employer has a qualified pension plan to which it contributes 6% of his gross salary. Hector's current annual salary is $50,000. The pension plan also earns $2,500 during the current year on contributions made to the plan on behalf of Hector. What is Hector's gross income from these transactions for the current year?
A) $50,000
B) $52,500
C) $53,000
D) $55,500
Correct Answer:
Verified
Correct Answer:
Verified
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