1. Your salary is $2,500 every two weeks. Your employer provides health insurance which costs the employer $500 and you $60 every pay. Your federal income tax rate is 18% and your FICA taxes are 7.65%. How much will your take home pay be for your first paycheck? \$ 2. The corporation borrowed $100,000 at 9% interest for 6 months from the bank on August 1x, this year. They will pay off the borrowing and all interest when the note matures in 6 months. When the accountant prepares their December 31 balance sheet, at what amount will they report for interest payable? $ 3. The company borrowed $500,000 by signing a four-year 8% note on January 1 this year. The company will make principal payments of $125,000 each year plus accrued interest. On December 31 of this year the company pays $125,000 principal payment plus $40,000 in accrued interest. After making the payment the accountant prepares their balance sheet, at what amount will they report as a current liability for this borrowing? \$