Multiple Choice
Assuming a FICA tax rate of 7.65% on the first $106,800 in wages, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $92,000?
A) $84,962
B) $65,430
C) $73,600
D) $66,562
Correct Answer:
Verified
Correct Answer:
Verified
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