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Lexington is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Asa comes to Lexington on April 7
Lexington is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Asa comes to Lexington on April and requests a pay advance of $ which Asa will pay back in equal parts on the April and May paychecks. Asa is single, with one dependent under is paid $ per year, contributes percent of gross pay to a and has $ per paycheck deducted for a Section plan.
Required:
Compute the net pay on Asa's April paycheck. The applicable state income tax rate is percent. Use the wagebracket method for manual payroll systems with Forms W from or later in Appendix C to determine the federal income tax. Assume box is not checked.
Note: Round your intermediate calculations and final answer to decimal places.
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