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You are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, Larson, comes to you on

You are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, Larson, comes to you on September 14 and requests a pay advance of $1,000, which will be paid back in equal parts on the September 22 and October 20 paychecks. Larson is single, has no dependents, is paid $52,500 per year, contributes 5 percent of gross pay to a 401(k) plan, and has $250 per paycheck deducted for a court-ordered garnishment. Assume that no pre-tax deductions exist for the employee and box 2 is not checked.
Required:
Compute the net pay for Larson's September 24 paycheck. The state income tax rate is 4.75 percent. Use the wage bracket tables in Appendix C to determine the federal income tax withholding amount. You do not need to complete the number of hours.
Note: Round your intermediate calculations and final answer to 2 decimal places.
Net pay
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