Use the following approximations to estimate earnings.

EI:1.73%

1.73%of Gross Income

CPP:5%

5%for Gross Income over$3,500

$3,500per year

Income Tax:

18%

18%on Annual Taxable Income from$0.00

$0.00to$30,000

$30,000

29%

29%on Annual Taxable Income from$30,000

$30,000to$60,000

$60,000

39%

39%on Annual Taxable Income over$60,000

$60,000

Example: Taxable Income is$45,000

$45,000per year; Annual Income Tax is approximately18%

18%of$30,000

$30,000plus29%

29%of ($45,000$30,000

$45,000$30,000)=$9,750.00

$9,750.00

Michelle, a first year university student, works part-time in a restaurant. She earns

$8.25

$8.25/h, and works 14h a week. She is paid every two weeks. Which is the best estimate of her net earnings

for a pay period?