Berkley's Gross Pay for This Month Is $8,750

Berkley's gross pay for this month is $8,750. His gross pay year-to-date, prior to this month totaled $102,500. Berkley's rate for federal income tax is 20%. His voluntary deductions total $950. What is the amount of Berkley's net pay? (Assume an OASDI rate of 4.2%, applicable on the first $110,100 earnings, and a Medicare rate of 1.45%, applicable on all earnings.)

A) $6,553.92
B) $6050.00
C) $7,000.00
D) $5,603.92

Correct Answer:

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