Figure 4.3 Example 4-1 Carl Jamison, an employee for the Scharman School, belongs to a tax-deferred retirement plan to which he contributes 3 percent of his pay which is matched by the school. His biweekly pay is $2,500. Because of the deferral (3% * $2,500 = $75), $2,425 is subject federal income tax withholding. George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,796. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent. a. What is the maximum that he can contribute into this retirement fund? b. What would be the company's contribution? Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places. c. What would be his weekly take-home pay if he contributes the maximum allowed retirement contribution (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)? Click here to access the Wage-Bracket Method Tables. $ d. What would be his weekly take-home pay without the retirement contribution deduction