Question: For many years, the amount of CPP contributions had been 4.95% of CPP pensionable earnings. For 2014, the year's maximum pensionable earnings was $52,500 and

For many years, the amount of CPP contributions had been 4.95%

For many years, the amount of CPP contributions had been 4.95% of CPP pensionable earnings. For 2014, the year's maximum pensionable earnings was $52,500 and the first $3,500 was the year's basic exemption (or minimum amount). Mortimer earned $65,000. How much were his CPP contributions in 2014? O $2,425.50 $3,217.50 $3,044.25 O None of the above $2.598.75

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