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Business, 12.08.2020 08:01 caitybugking

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,588. The FICA tax for social security is 6.2% of the first $118,500 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,424.97. Her net pay for the month is: (Round your intermediate calculations to two decimal places.) a) $7,038.50
b) $5,141.03
c) $6,072.04
d) $6,566.00
e) $6,506.04

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