Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted whenthe offer came through at $15.20 per hour. She completed her W-4 stating that she is married filing jointly. Her company will pay herbiweekly for 80 hours (assume a tax rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare).Calculate her take-home pay for her first check. (Use Table 9.1)Note: Round your answer to the nearest cent.Net payThetentativeamount towithhold is:сMarried Filing Jointly$ 0.00$ 0.00$76.60$358.84$1,134.78$ 2,584.86$3,680.22$ 6,499.82At least But lessthan-BA$0$ 965$ 965 $ 1,731$1,731 $4,083$4,083 $7,610$7,610 $ 13,652$ 13,652 $ 17,075$17,075 $ 25,131$ 25,131Plus thispercentageD0%10%12%22%24%32%35%37%of theamountthat theAdjustedWageexceeds-E-Table 9.1AAt least But lessthan-TABLE 2-BIWEEKLY Payroll Period$0$0$483$ 965$ 1,731 $ 865$4,083 $2,041$7,610 $3,805$ 13,652 $6,826$17,075 $8,538$25,131 $ 20,621Thetentative Plus thisamount to percentagewithhold is:BCDSingle or Married Filing Separately$ 483$ 0.00$ 865$ 2,041$3,805$ 6,826$8,538$ 20,621$ 0.00$38.20$179.32$ 567.40$ 1,292.44$1,840.28$6,069.33of theamountthat theAdjustedWageexceeds-EAt least But lessthan-B-AThetentative Plus thisamount to percentagewithhold is: -сHead of Household$0.00$ 0.00$ 54.60$239.28$511.20$ 1,236.24$ 1,784.08$6,013.830%$0 $0 $72310%$483 $723 $1,26912%$ 865 $1,269 $ 2,80822% $2,041 $2,808 $4,04424% $ 3,805 $4,044 $7,06532% $6,826 $7,065 $8,77735% $8,538 $8,777 $ 20,86237% $ 20,621 $ 20,862Ꭰ0%10%12%22%24%32%35%37%of theamountthat theAdjustedWageexceeds-E$0$723$ 1,269$ 2,808$4,044$7,065$8,777$ 20,862

Take-home pay, also known as net pay, is the amount of money that an employee receives after all…

Answered: Rhonda Brennan found her first job…

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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