Question: Use Table 10-3, Table 10-4 and Table 10-5 from your textbook to answer the following question. Compute and compare the federal income tax withholding amounts

Use Table 10-3, Table 10-4 and Table 10-5 from your textbook to answer the following question.

Use Table 10-3, Table 10-4 and Table 10-5 from your textbook to

answer the following question. Compute and compare the federal income tax withholding

amounts using the percentage method and the wage-bracket method. Round all computations

to the nearest cent. Fred Greys: weekly wages, $503; single; 2 withholding

allowances Percentage method: $ Wage-bracket method: $ Difference: $ Figure 10-3 Percentage

Method Amount for one Withholding Allowance One Withholding Payroll Period Allowance 76.00

Compute and compare the federal income tax withholding amounts using the percentage method and the wage-bracket method. Round all computations to the nearest cent.

Fred Greys: weekly wages, $503; single; 2 withholding allowances

Percentage method: $
Wage-bracket method: $
Difference: $

Figure 10-3 Percentage Method Amount for one Withholding Allowance One Withholding Payroll Period Allowance 76.00 Weekly $151.90 Biweekly $164.60 Semimonthly Monthly $329.20

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