Mr. Jones has an annual gross pay of $22,000. His state tax rate is 2% of his gross pay. He is required to pay Social Security at a rate of 6.2% and Medicare at a rate of 1.45%. His federal tax obligation if $67 each week for 52 weeks. What is his net pay for the year?

Question 2 options:

A. $16,393

B. $12,909

C. $5,607

D. $19,169

Question

Mathematics

Madyson Munoz

4 May, 11:12

Mr. Jones has an annual gross pay of $22,000. His state tax rate is 2% of his gross pay. He is required to pay Social Security at a rate of 6.2% and Medicare at a rate of 1.45%. His federal tax obligation if $67 each week for 52 weeks. What is his net pay for the year?

Question 2 options:

A. $16,393

B. $12,909

C. $5,607

D. $19,169

+4

Answers (1)

Know the Answer?

Grayson Mcgee · Answer 1

Option A

$16393

Step-by-step explanation:

Deductions

Percentage deductions total will be 2%+6.2%+1.45%=9.65%

Deduction due to federal tax=52*67=$3484

Total deductions will be (9.65*22000/100) + (52*67) = 2123+3484=$5607

Net salary = Gross salary - Deductions

Net salary = 22000-5607=$16393