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OpenStudy (anonymous):
Ann Smith's earnings are subject to deductions for Social Security, Medicare, and FIT. To date her cumulative earnings is $106,700. This week Ann earns $1,200. Ann, who is married, is paid weekly and claims 3 exemptions. Assume Social Security rate is 6.2% on $106,800 and 1.45% for Medicare. Her net pay for the week is what?
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