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Problem 14-7 Calculating Net Pay and Spendable Income [LO5] Assume your gross pay per pay period is $3,100 and you are in the 26 percent
Problem 14-7 Calculating Net Pay and Spendable Income [LO5] Assume your gross pay per pay period is $3,100 and you are in the 26 percent tax bracket (ignore provincial taxes). Calculate your net pay and spendable income in the following situations: a. You save $200 per pay period in a TFSA after paying income tax on $3,100. (Omit the "\$" sign in your response.) Spendable Income b. You save $200 per pay period in an RPP. (Omit the "\$" sign in your response.) Spendable Income
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