Employee contributions under the Canada Pension Act are 4.95% of pensionable earnings. Pensionable earnings deduct a basic yearly exemption of $3, 500 and impose a maximum ceiling of $46, 300. Marco earns $1,000 per week. What amount of CPP will be deducted each week from Marco's pay? $49.00 $40.74 $1, 664.00 $44.07 What weekly amount will the employer contribute to the Canada Pension Plan on behalf of Marco? $63.98 $40.74 $1, 664.00 $44.07