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Jacob works part-time as a cashier at a drug store. His gross pay for the year
was $8,000. Based on his income level, the federal tax rate he'll need to pay is
10%. For his state taxes, Jacob will need to pay 5% and the FICA rate is
7.65%. What is Jacob's net pay for the year?

A. $1,812
B. $7,200
C. $6,188
D. $6,988

Sagot :

Answer:

Option C

Explanation:

Gross Salary of Jacob  = $ 8000

Federal tax paid by him = 10% of $8000 = $800

State tax = 5% of $8000 = $400

FICA rate = 7.65% of $8000 = $612

Net Pay of Jacob = $ 8000 - $800 -$400-$612

= $6188

Hence, option C is correct

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