Question: An employer contributes $2,000 annually to a deferred profit-sharing plan on behalf of an employee for 10 years. The plan invests the funds and earns

An employer contributes $2,000 annually to a deferred profit-sharing plan on behalf of an employee for 10 years. The plan invests the funds and earns an annual return of 12%. What is the pre-tax annual salary equivalent of such a benefit for an employee who is subject to a marginal tax rate of 40%?

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