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Shereen works for Andy Company and is a superior salesperson. Her total compensation this year is $350,000. Andy company sponsors an integrated profit-sharing plan with
Shereen works for Andy Company and is a superior salesperson. Her total compensation this year is $350,000. Andy company sponsors an integrated profit-sharing plan with a base employer contribution percentage of 5% and a maximum excess percentage. It uses the Social Security wage base as the integration level. - What is the maximum excess (additional) percentage that may be applied to Sheehan's compensation above the integration level? (leave out the "\%" sign and round to one decimal) - How much may be contributed for Shereen's income up to the Social Security Wage Base? (leave out the "\$" sign and round to the whole dollar) - How much may be contributed for Shereen's income above the Social Security Wage Base? (leave out the "\$" sign and round to the whole dollar) - How much may be contributed for Shereen in total? (leave out the "\$" sign and round to the whole dollar)
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