Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6
If the wages are-
And the number of withholding allowances claimed is-
12 3 4
5 6
9 10+
7
But less
At least
than
The amount of income tax withheld is -
720
740
0 0 0 0
83 65 47 28 16 3 00000
86 68 50 31 18 5 00000
89 71 53 34 20 70000 o
92 74 56 37 22 900000
95 77 59 40 24 11 o0000
98 80 62 43 26 13 1 0 o
740
760
760
780
780
800
800
820
820
840
840
860
00
Transcribed Image Text:If the wages are- And the number of withholding allowances claimed is- 12 3 4 5 6 9 10+ 7 But less At least than The amount of income tax withheld is - 720 740 0 0 0 0 83 65 47 28 16 3 00000 86 68 50 31 18 5 00000 89 71 53 34 20 70000 o 92 74 56 37 22 900000 95 77 59 40 24 11 o0000 98 80 62 43 26 13 1 0 o 740 760 760 780 780 800 800 820 820 840 840 860 00
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