George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,640. 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. (For wages paid through December 2019 wage-bracket)

a. What is the maximum that he can contribute into this retirement fund?

$13,000 (correct)

b. What would be the company's contribution?

$1279.20 (correct)

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 if he contributes the maximum allowed retirement contribution (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)?

d. What would be his weekly take-home pay without the retirement contribution deduction?