Question: Solomon contributed $20,000 to his RRSP at the time when his marginal tax rate was 52%.At retirement,which he anticipated being 20years from now,he expects to

Solomon contributed $20,000 to his RRSP at the time when his marginal tax rate was 52%.At retirement,which he anticipated being 20years from now,he expects to continue to have a marginal tax rate of 52%.Based on a discount rate of 5%,what is the present value of the amount of tax solomon will pay on a withdrawal of $20,000 from his RRSP in his first year of retirement ?

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