At the end of the first pay period of the year, Sofia earned $4,000 of salary. Withholdings
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At the end of the first pay period of the year, Sofia earned $4,000 of salary. Withholdings from Sofia’s salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $500 of federal income taxes, $160 of medical insurance deductions, and $10 of life insurance deductions. Compute Sofia’s net pay for this first pay period.
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Related Book For 
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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