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The Social Security Administration increased the taxable wage base from si i7,000 to $118,500. The 62% tax rate is un- changed. Joe Burns earned over

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The Social Security Administration increased the taxable wage base from si i7,000 to $118,500. The 62% tax rate is un- changed. Joe Burns earned over $120,000 each of the past two years. (a) What is the percent increase in the base? to the nearest hundredth percent. (b) What is Joe's increase in Social Security tax for the new year? LU9-2(1) 9-22 Round

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