Reese earns $140,000. She defers $10,000 into her 401(k)traditional account and $5,000 into her 401(

Reese earns $140,000. She defers $10,000 into her 401(k)traditional account and $5,000 into her 401(k) Roth account. Whichof the following statements is/are true? 1. $130,000 of earnings is subject to FICA. 2. Her W-2 wages subject to Federal income tax equals$125,000. a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2. . . .

 
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