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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 are $106,700. This week Bill earns $1,200. Bill, who is married, is paid weekly, and claims three exemptions. Assume Social Security rate is 6.2% on $106,800 and 1.45% for Medicare. His net pay for the week (using percentage table in handbook to calculate FIT) is
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