Employee Net Pay Steven Inverness's weekly gross carnings for the week ending December 18 were $1,420, and his federal income tax withholding was $241.40. Assuming the social security rate is 6% and Medicare is 1.5% of all earnings, what is Inverness's net pay? Note: If required, round your answer to two decimal places Feedback Check My Work Net pay is the gross earnings minus payroll deductions. The amount of Medicare and social security withheld is based on an employee's gross earnings. Learning Objective 2