QUESTION 2 [5 MARKS] Jennifer's regular hourly wage is $16 an hour. She receives overtime pay at the rate of time and a half. The FICA tax rate is 7.65%. Jennifer is paid every two weeks. For the first pay period in March Jennifer worked 86 hours. Jennifer's federal income tax withholding is $350 and her state income tax withholding is $110. Jennifer has authorized that $50 be withheld from her check each pay period for savings bonds. REQUIRED: Compute Jennifer's gross earnings and net pay for the pay period showing each payroll deduction in arriving at net pay.