Suppose you work for KPMG, the accounting firm, all year and earn a monthly salary of \(\$ 6,000\). There is no overtime pay. Your withheld income taxes consume \(15 \%\) of gross pay. In addition to payroll taxes, you elect to contribute \(5 \%\) monthly to your retirement plan. KPMG also deducts \(\$ 200\) monthly for your co-pay of the health insurance premium.

Compute your net pay for November. Use an \(8 \%\) FICA tax rate.