Berkley's gross pay for the month is $7,400. His deduction for federal income tax is based on
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Question:
Berkley's gross pay for the month is $7,400. His deduction for federal income tax is based on a rate of 18%. He has no voluntary deductions. His yearly pay is under the limit for OASDI. What is Berkley's net pay? (Assume a FICAOASDI Tax of 6.2% and FICAMedicare Tax of 1.45%. Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
(a) $5,502
(b) $7,400
(c) $6,834
(d) $6,068
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