Refer to E5.12. Assuming Leithead remits the taxes to the proper authorities during the same period as the employees are paid, what is the expected cash outflow for Leithead (ignore employer taxes)?

Data from E5.12

Leithead, Inc., expects its gross payroll for the period to be $60,000. It expects to withhold 7.65 percent of gross payroll for FICA taxes, 15 percent for federal income taxes, and 5 percent for state income taxes. What is the expected net pay for the period?