P$$oure $4\mathrm{.}3$

Example $4-1$

Cari Jamison, an employee for the Scharman School, belongs to a tax$-$deferred retirement plan to which he contributes $3$ percent of his par which is mathed by the school. His biveekly pay is $$2,500.$ Because of the deferral $)=($$$75$ is subject to federal ineame tax whtholding.

George Clausen $($age $48)$ is employed by Kline Company and is paid a salary of $$43,004.$ He has just decided to join the company's Simple Retirenert Actount $($tRa form$)$ and has a few questions. Answer the following for Clausen: Round your answer to the nearest cant.

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

b$.$ What would be the company's contribution?

Notes for items c$.$ &$.$ d$.$ below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answe to two decinal places.

$6.$ What would be his weekly take$-$home pay if he contributes the maximum allowed retirement contribution $($martied$,2$ allowances, wage$-$dracket anoehod, and a

$2\mathrm{.}3$e$\%$ state income tar on total wages$)?$

Chick here to acress the Miage$-$ Bracket Method Tables.

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