Before tax expenses=45,000/(1-0.2)=56,250
Before tax real rate of return=56,250/1,000,000=5.6%
Before tax nominal rate of return=5.6%+4%=9.6%
I guess we have to calculate spending before tax first and then calculate the return adj for inflation. Thanks for the info! |
发表于 2013-4-2 14:37
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