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Assuming a FICA Tax Rate of 7

Question 27

Multiple Choice

Assuming a FICA tax rate of 7.65% on the first $117000 in wages 1.45% on amounts in excess of $117000 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 $180000 for the year?


A) $134867
B) $135050
C) $144000
D) $133953

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