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At the end of the first pay period of the year, Dan earned $5,500 of salary. Withholdings from Dans salary include FICA Social Security taxes

At the end of the first pay period of the year, Dan earned $5,500 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%, $660 of federal income taxes, $200 of medical insurance deductions, and $20 of life insurance deductions. Compute Dans net pay for this first pay period.

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