At the end of the first pay period of the year, Dan earned $6,400 of salary. Withholdings from Dans salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $768 of federal income taxes, $245 of medical insurance deductions, and $17 of life insurance deductions. Compute Dans net pay for this first pay period.

Multiple Choice

• $6,400.00

• $4,880.40

• $5,910.40

• $5,142.40

• $5,632.00