An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99.700; social security tax rate, 6.0% on maximum of $106,800; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee? O a. $798.85 b. $873.77 c. $1,242.00 d. $1,323.00 QUESTION 25 The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number shares outstanding? O a. 5,000 b. 100,000 O c. 60,000 d. 55,000 QUESTION 26 Determine the cost of the land, based on the following data. Land purchase price Broker's commission Payment for the demolition and removal of existing building Cash received from the sale of materials salvaged from the demolished building $90,000 7,500 2,500 500