Question: Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,480 employer contribution to a qualified profitsharing plan account, and

Ms. Ray is age 46 and single. This year, Mr. Ray's

Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,480 employer contribution to a qualified profitsharing plan account, and a contribution by Ms. Ray to a traditional IRA. Mr. Ray contributed the maximum allowed. Required: a. Compute Ms. Ray's IRA deduction if current year income includes $57,600 salary. b. Compute Ms. Ray's IRA deduction if current year income includes $71,400 salary. c. Compute Ms. Ray's IRA deduction if current year income includes $71,400 salary and $7,300 dividend income

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