From Exercise 2, calculate Devons net pay. The state income tax rate is 5% and health insurance
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In Exercise 2, Devon Mark, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $105,800. If he is paid $1,940 this period, what will his deductions be for FIT and FICA (OASDI and Medicare)? The FICA tax rate for Social Security is 6.2% on $106,800 and Medicare is 1.45% on all earnings.
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