Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cheryl Dodds is an Engineer with the City of Regina. She earns a base bi-weekly salary of $3,500. The federal income tax rate on her
Cheryl Dodds is an Engineer with the City of Regina. She earns a base bi-weekly salary of $3,500. The federal income tax rate on her earnings is approximately 11.81 percent and provincial tax is 7.2 percent. The CPP contribution rate is 4.95 percent (account for the $3,500 basic annual exemption), and the EI premium rate is 1.66 percent. Cheryl has not exceeded CPP or EI maximum earning levels. What is Cheryls net pay?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started