Mark's gross annual salary is $78,082 withbiweekly paychecks. If he is married andhas 3 dependent children, compute thebiweekly withholding his employer willsend to the IRS.Use the following information:• Biweekly allowance: $165.38 perperson.2022 Married Person Biweekly Withholding TableTaxable Wages50-$498$498-$893$893-$2,105$2,105-$3,924$3,924-$7,038$7,038-$8,804$8,804-$12,957$12,957 or moreWages Withholding$0.0050.00 plus 10% of amount exceeding $498$39.50 plus 12% of amount exceeding $893$184.94 plus 22% of amount exceeding $2,105$585.12 plus 24% of amount exceeding $3,924$1,332.48 plus 32% of amount exceeding $7,038$1,897.60 plus 35% of amount exceeding $8,804$3,351.15 plus 37% of amount exceeding $12,957Round your answer to the nearestdollar.

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Mark's gross annual salary is $78,082 with biweekly paychecks. If he is married and has 3 dependent children, compute the biweekly withholding his employer will send to the IRS. Use the following information: • Biweekly allowance: $165.38 per person. 2022 Married Person Biweekly Withholding Table Taxable Wages 50-$498 $498-$893 $893-$2,105 $2,105-$3,924 $3,924-$7,038 $7,038-$8,804 58 804512 957 Wages Withholding $0.00 50.00 plus 10% of amount exceeding $498 $39.50 plus 12% of amount exceeding $893 $184.94 plus 22% of amount exceeding $2,105 S585.12 plus 24% of amount exceeding $3,924 $1,332.48 plus 32% of amount exceeding $7,038 51 897.60 plus 25% of amount exceeding $8.804

Mark's gross annual salary is $78,082 with biweekly paychecks. If he is married and has 3 dependent children, compute the biweekly withholding his employer will send to the IRS. Use the following information: • Biweekly allowance: $165.38 per person. 2022 Married Person Biweekly Withholding Table Taxable Wages 50-$498 $498-$893 $893-$2,105 $2,105-$3,924 $3,924-$7,038 $7,038-$8,804 58 804512 957 Wages Withholding $0.00 50.00 plus 10% of amount exceeding $498 $39.50 plus 12% of amount exceeding $893 $184.94 plus 22% of amount exceeding $2,105 S585.12 plus 24% of amount exceeding $3,924 $1,332.48 plus 32% of amount exceeding $7,038 51 897.60 plus 25% of amount exceeding $8.804

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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