rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate) 2 If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421.615 rounded to $421.62 Hourly rate $421.62/40 $10.540 rounded to $10.54 OT. rate $10.54 x 1.5 = $15.81 Also, use the minimum hourty wage of $7.25 in solving these problems and all that follow. Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Amount to Be Withheld No.of Withholding Allowances Marital Gross Wage or Percentage Method Wage-Bracket Employee Status Method Ruiz, S. Flume, x. Farley, H. Comey, P Hanks, R $1,040 weekly 2,190 weekly 1,890 biweekly 2,315 semimonthly 4,200 monthly N/A 6 1M heck hy Wor rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate) 2 If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421.615 rounded to $421.62 Hourly rate $421.62/40 $10.540 rounded to $10.54 OT. rate $10.54 x 1.5 = $15.81 Also, use the minimum hourty wage of $7.25 in solving these problems and all that follow. Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Amount to Be Withheld No.of Withholding Allowances Marital Gross Wage or Percentage Method Wage-Bracket Employee Status Method Ruiz, S. Flume, x. Farley, H. Comey, P Hanks, R $1,040 weekly 2,190 weekly 1,890 biweekly 2,315 semimonthly 4,200 monthly N/A 6 1M heck hy Wor