Kenneth Friedman's weekly gross earnings for the week ending March 9 were $3,840, and her federal income tax withholding was $729.60. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Friedman's net pay? If

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Kenneth Friedman's weekly gross earnings for the week ending
March 9 were $3,840, and her federal income tax withholding was
$729.60. Assuming the social security tax rate is 6% and Medicare
tax is 1.5% of all earnings, what is Friedman's net pay? If
required, round your answer to two decimal places.
Transcribed Image Text:Kenneth Friedman's weekly gross earnings for the week ending March 9 were $3,840, and her federal income tax withholding was $729.60. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Friedman's net pay? If required, round your answer to two decimal places.
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