I Example 3 Baker, an employee of James & Associates, has gross salary for November of $12,800. As of October 31, Baker had $128,000 of cumulative earnings. Baker is subject to income tax withholding of 24%. He participates in the health insurance plan and has $165 withheld to cover his share of the premium. He also has $400 withheld for his 401k plan. James & Associates pays half of the insurance premium and matches 401k contributions. The company pays their employees on the 1st day of the month following the month the salary was earned. Required 3a 3b Compute Baker's net pay. Compute payroll tax expense for James & Associates (no journal entries needed)