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Please help me compute net pay based on the following information, all using 2022 percentage bases. Thanks in advance 2022 Appendix C: Marbury is the

Please help me compute net pay based on the following information, all using 2022 percentage bases. Thanks in advance

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2022 Appendix C:

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Marbury is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Sten comes to Marbury on April 7 and requests a pay advance of $1,000, which Sten will pay back in equal parts on the April 15 and May 15 paychecks. Sten is single, with one dependent under 17, is paid $50,000 per year, contributes 3 percent of gross pay to a 401(k), and has $125 per paycheck deducted for a Section 125 plan. Required: Compute the net pay on Sten's April 15 paycheck. The applicable state income tax rate is 5.25 percent. Use the wage-bracket method for manual payroll systems with Forms W-4 from 2020 or later in to determine the federal income tax. Assume box 2 is not checked. Note: Round your intermediate calculations and final answer to 2 decimal places. 2022 Percentage Method Tables for Automated Pavroll Svstems and Withholdina on Periodic

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