Problem $13-64($LO $13-3)($Algo$)$

Clayton participates in his employer's nonqualified deferred compensation plan. For $2023,$ he is deferring $10$ percent of his $$352,000$

annual salary. Assuming this is his only source of income and his marginal income tax rate is $32$ percent, how much does deferring

Clayton's income save his employer $($after taxes$)$ in $2023?$ The employer's marginal tax rate is $21$ percent $($ignore payroll taxes$).$

Employer's after$-$tax savings