. The gross payroll for McKinney Corporation was $100,000. Federal income tax withheld from employee paychecks amounted to $24,000, state income tax withheld amounted to $3,000, Social Security amounted to $8,500 (the combined employee and employer portions), and Medicare amounted to $3,500 (the combined employee and employer portions). Furthermore, employees elected to have $1,000 of insurance and charitable contributions withheld from their paychecks. How much was net pay?