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Chrome File e Edit View History Bookmarks Profiles Tab Window Help O Q Sun May 18 6:54 PM D2L Final Exam - Part 2 - 2025SP- x Question 28 - Final Exam - Pa x Dashboard X + National Anthem MADELREY Lana Del Rey - Born to Die G o ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fconnect.mheducation.... All Bookmarks Final Exam - Part 2 i Saved Help Save Exit Submit Tyson (62 years old) owns a traditional IRA with a current balance of $50,000. The balance consists of $30,000 of deductible contributions and $20,000 of account earnings. Tyson's marginal tax rate is 25 percent. Convinced that his marginal tax rate will increase in the future, Tyson receives a distribution of 28 the entire $50,000 balance of his traditional IRA. He retains $12,500 to pay tax on the distribution and he contributes $37,500 to a Roth IRA five days after the distribution. What amount of income tax and penalty must Tyson pay on this series of transactions? Multiple Choice O $0 income tax; $0 penalty O $12,500 income tax; $1,250 penalty O $12,500 income tax; $3,000 penalty O $12,500 income tax; $5,000 penalty Mc Graw Hill MAY 18 utv OT