Question: Problem 5 - 4 A ( Algo ) Lex Is the payroll accountant at All's Fair Glfts . The employees of All's Fair Gifts are

Problem 5-4A (Algo) Lex Is the payroll accountant at All's Fair Glfts. The employees of All's Fair Gifts are pald semimonthly. Akila comes to Lex on April 8 and requests a pay advance of \(\$ 1,000\), which Akila will pay back in equal parts on the April 19 and May 17 paychecks. Akila Is single, with one dependent under 17, is pald \$66,000 per year, contributes 3 percent of gross pay to a \(401(\mathrm{k})\), and has \$145 per paycheck deducted for a Section 125 plan. Required: Compute the net pay on Akila's Aprll 19 paycheck. The applicable state Income tax rate is 5.25 percent. Use the wage-bracket method for manual payroll systems with Forms W-4 from 2020 or later In Appendix C to determine the federal income tax. Assume box 2 is not checked. Note: Round your Intermediate calculations and final answer to \(\mathbf{2}\) decimal places. Answer is complete but not entirely correct.

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