Bill Burne’s earnings are subject to deductions for Social Security, Medicare and FIT. To date his cumulative earnings is $106,700. This week Bill…
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Bill Burne’s earnings are subject to deductions for Social Security, Medicare and FIT. To date his cumulative earnings is $106,700. This week Bill earns $1,200. Bill, who is married, is paid weekly and claims 3 exemptions. Assume Social Security rate is 6.2% on $106,800 and 1.45% for Medicare. His net pay for the week is
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