Suppose you can save $14,000 pre-tax during the current year, and you plan to invest the maximum $7,000 in either a Traditional or Roth IRA and invest the rest in a regular brokerage account. Whether you choose the Traditional or Roth IRA, you’ll invest your IRA’s funds in stocks earning 8% per year (assume the returns are all capital gains, no dividends) and the brokerage account’s funds in a money market mutual fund paying 4.5% per year in interest (assume the returns are all interest, no capital gains) You intend to withdraw the money after 30 years. Assume your income tax rate now and for the remainder of your life is 25%, dividend tax rate is 15%, and capital gains tax rate is 15%. Calculate how much you will have net of all taxes if you withdraw all money from both accounts after 30 years under these two options: · max out your Traditional IRA contribution with stocks and invest the rest in a money market mutual fund in your brokerage account · max out your Roth IRA contribution with stocks and invest the rest in a money market mutual fund in your brokerage account Based on the assumptions provided, which choice will lead to more after-tax wealth after 30 years? a) Explain why one option led to more after-tax wealth or why they ended up being the same (whichever applies).