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Assume a tax rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the
Assume a tax rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1).
Note: Do not round intermediate calculations and round your final answers to the nearest cent.
Employee: Pat Brown
Marital Status: Single
Gross Pay: $1,500
FIT: ?
Social Security: ?
Medicare: ?
Net pay: ?
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