Answer: $2,512.70

$329.20 X 3 = $987.60

$3,500.30 - $987.60 = $2,512.70 taxable income.

Question 2 1.25 pts Cross receives a monthly paycheck from a bakery plant of $3,500.30. She is married and is entitled to 3 withholding allowances. How much is her taxable income? Use the percentage method tables in Exhibits 9-1 and 9-2 from your text. O $2,512.70 $3,044.06 $3,079.16 $3,289.73 Payroll Period Weekly ... Biweekly.. Semimonthly Monthly Quarterly Semiannually Annually.... Daily or miscellaneous (each day of the payroll period). One Withholding Allowance $ 76.00 151.90 164.60 329.20 987.50 1,975.00 3,950.00 15.20 $43 Percentage Method Tables for Income Tax Withholding (For Wages Paid in 20XX) TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household) (1) MARRIED person- If the amount of wages (after of the amount of wages (after subtracting withholding The amount of income tax Subtracting withholding The amount of income tax allowances) is: to withhold is: allowances) is: to withhold is Not over 543 .50 Not over $163 50 Over- But not over- of excess over-Over- But not over of excess over- ---$218 50.00 plus 10% -$43 $163 ---$512 ..50.00 plus 10% -$163 $218 ---$753 $17.50 plus 15% ---$218 $512 -$1,582 $34.90 plus 15% -$512 $753 -$1,762 $97.75 plus 25% -$753 $1,582 --$3,025 $195.40 plus 25% -$1,582 $1,762 -53,627 $350.00 plus 28% -51,762 $3,025 -$4,525 $556.15 plus 28% -$3,025 $3,627 ---$7,834 $872.20 plus 33% -$3,627 $4,525 -$7,953 5976.15 plus 33% --$4,525 $7,834 ---$7,865 $2,260.51 plus 35% - $7,834 $7,953 ---$8,963 $2,107.39 plus 35% -$7,953 $7,865 $2,271.36 plus 39.6% -57,865 $8,963 $2,460.89 plus 39.6% -$8,963 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (6) MARRIED person- If the amount of wages (after If the amount of wages (after subtracting withholding The amount of income tax Subtracting withholding The amount of income tax allowances) is: to withhold is: allowances) is: to withhold is: Not over $87 $0 Not over $325 $0 Over- But not over- of excess over-Over- But not over of excess over- $87 -$436 ..50.00 plus 10% -$87 $325 --$1,023 50.00 plus 10% -$325 $436 -$1.506 $34.90 plus 15% -$436 $1,023 -$3,163 $69.80 plus 15% -$1,023 $1.506 --$3,523 $195.40 plus 25% -$1.506 $3,163 -56.050 $390.80 plus 25% -$3,163 $3,523 --$7,254 $699.65 plus 28% -$3,523 $6,050 -$9,050 $1.112.55 plus 28% $6,050 $7,254 -$15,667 $1,744.33 plus 33% -$7,254 $9,050 -$15,906 $1,952.55 plus 33% -59,050 $15,667 -$15,731 54,520.62 plus 35% -$15,667 $15,906 -$17,925 $4,215.03 plus 35% -$15,906 $15,731 $4,543.02 plus 39.6% -$15,731 $17,925 $4,921.68 plus 39.6% --$17.925 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household) (6) MARRIED person- if the amount of wages (after of the amount of wages (after subtracting withholding The amount of income tax subtracting withholding The amount of income tax allowances) is to withhold is: allowances) is: to withhold is: Not over $94. $0 Not over $352 $0 Over- But not over- of excess over-Over- But not over- of excess over- $94 -$472 $0.00 plus 10% -$94 $352 ---$1,108 $0.00 plus 10% --$352 $472 -51,631 $37.80 plus 15% -$472 51,108 ---53,427 $75.60 plus 15% -$1,108 $1,631 -53,817 $211.65 plus 25% -51,631 $3,427 - $6,554 5423.45 plus 25% -$3,427 $3,817 -$7,858 $758.15 plus 28% -$3,817 $6,554 -$9,804 $1,205 20 plus 28% -$6,554 $7,858 -$16,973 $1.889.63 plus 33% -$7,858 $9,804 -$17,231 $2,115 20 plus 33% -$9,804 $16,973 -$17,042 ..$4.897.58 plus 35% -$16,973 $17,231 -$19,419 $4,566.11 plus 35% -$17,231 $17,042 $4.921.73 plus 39.6% -$17,042 $19,419 $5,331.91 plus 39.6% --$19,419 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages (after If the amount of wages (after subtracting withholding The amount of income tax subtracting withholding The amount of income tax allowances) is: to withhold is: allowances) is to withhold is: Not over $188 $0 Not over $692 $0 Over- But not over- of excess over-Over- But not over of excess over- $188 ---5944 ......50.00 plus 10% -$188 $704 --$2,217 50.00 plus 10% -$704 $944 --$3,263 $75.60 plus 15% $944 $2,217 -56,854 $151.30 plus 15% -$2,217 $3,263 --$7,633 ..$423.45 plus 25% $3,263 $6,854 -$13,108 $846.85 plus 25% --$6,854 $7,633 -$15,717 $1,515.95 plus 28% -$7,633 $13,108 -$19,608 ..... 52.410.35 plus 28% -$13,108 $15,717 -$33,946 ..$3,779.47 plus 33% -$15.717 $19,608 --$34,463 ......$4,230.35 plus 33% -$19,608 $33.946 -$34,083 59.795.04 plus 35% -$33.946 $34,463 -$38,838 $9,132.50 plus 35% -$34,463 $34,083.. 59.842.99 plus 39.6% --$34,083 $38,838 $10,663.75 plus 39.6% -538,838