Tom Hanson, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $126,000. He is paid $1,930 this period. Calculate Tom Hanson's net pay. The FICA tax rate for Social Security is 6.2% on $127,200, Medicare is 1.45%, state income tax rate is 5%, and health insurance is $35. (Click the icon to view the Single Persons - Biweekly Payroll Period federal income tax withholding table.) Calculate Tom Hanson's net pay. (Round to the nearest cent.)