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9.Compute the amount of cash that Hunter saved in 2018 because he chose to take advantage of payroll deductions made available to him by his

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9.Compute the amount of cash that Hunter saved in 2018 because he chose to take advantage of payroll deductions made available to him by his employer. Hint: Payroll deductions related to 401(k) contributions only reduce the amount of an employee's taxable wages reported on Form W-2, Box I (i.e. employees still owe FlCA taxes on the portion of their payroll deductions related to 4010:) contributions). ln contrast, payroll deductions related to exible spending accounts and health insurance premiums reduce the amount of an employee's taxable wages reported on Form W-2. Boxes 1. 3 and 5. Hunter's marginal tax rate of 24% (income tax rate only) and 31.65% (income tax rate + Social Security tax rate + Medicare tax rate) should be used as applicable for this analysis and your answer should be shown as a positive amount and rounded to ZEROdecimaI places

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