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OpenStudy (anonymous):
Bill Burne's earnings are subject to deductions for Social Security, Medicare and FIT. To date his cumulative earnings is $97,400. This week Bill earns $1,200. Bill, who is married, is paid weekly and claims 3 exemptions. Assume Social Security rate is 6.2% on $97,500 and 1.45% for Medicare. His net pay for the week is: (use percentage table in handbook to calculate FIT)
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